<SEC-DOCUMENT>0001001807-16-000038.txt : 20160401
<SEC-HEADER>0001001807-16-000038.hdr.sgml : 20160401
<ACCEPTANCE-DATETIME>20160401120613
ACCESSION NUMBER:		0001001807-16-000038
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20160401
FILED AS OF DATE:		20160401
DATE AS OF CHANGE:		20160401

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK
		CENTRAL INDEX KEY:			0001001807
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				999999999
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14406
		FILM NUMBER:		161545790

	BUSINESS ADDRESS:	
		STREET 1:		JL. JAPATI 1
		CITY:			BANDUNG
		STATE:			K8
		ZIP:			40133
		BUSINESS PHONE:		62-224527101

	MAIL ADDRESS:	
		STREET 1:		JL. JAPATI 1
		CITY:			BANDUNG
		STATE:			K8
		ZIP:			40133
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F
<SEQUENCE>1
<FILENAME>tlk_20f2015.htm
<DESCRIPTION>PT TELKOM INDONESIA (PERSERO) TBK
<TEXT>

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">UNITED STATES SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">WASHINGTON, D.C. 20549</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">________________</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:14.0pt;">Form 20-F</font></b></p>

<div align=center>

<table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=100% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=100% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR
  (g) OF THE SECURITIES EXCHANGE ACT OF 1934</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=100% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">OR</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=100% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="wingdings 2" style="font-size:10.0pt;">R</font></b><b><font face="Times New Roman" style="font-size:10.0pt;">ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
  SECURITIES EXCHANGE ACT OF 1934</font></b></p>
  <p align=center style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">For the
  fiscal year ended December 31, 2015</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=100% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
  THE SECURITIES EXCHANGE ACT OF 1934</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=100% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">OR</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=100% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d)
  OF THE SECURITIES EXCHANGE ACT OF 1934</font></b></p>
  </td>
 </tr>
</table>

</div>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Date of event requiring this shell company report</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Commission file number 1-14406</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">________________</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:14.0pt;">Perusahaan Perseroan (Persero)</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:14.0pt;">PT Telekomunikasi Indonesia Tbk</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(Exact name of Registrant as specified in its charter)</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:14.0pt;">Telecommunications Indonesia</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(a state-owned public limited liability company)</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(Translation of Registrant&#8217;s name into English)</font></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">________________</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Republic of Indonesia</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(Jurisdiction of incorporation or organization)</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Jl. Japati No. 1, Bandung 40133, Indonesia</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(Address of principal executive offices)</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Investor Relations Unit</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Grha </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Merah Putih</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, Jl. Gatot
Subroto No. 52, 5<sup>th</sup> Floor, Jakarta 12710, Indonesia</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(62) (22) 452-7101</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(62) (21) 521-5109</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(Name, Telephone, E-mail and/or Facsimile number and
Address of Company Contact Person)&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">________________</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Securities registered or to be registered pursuant to
Section 12(b) of the Act.</font></p>

<div align=center>

<table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:746.000000pt;">
 <tr>
  <td colspan=4 valign=top width=100% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=70% style="border-bottom:solid windowtext 1.0pt;padding:0in 2.35pt 0in 2.35pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Title of</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Each class</font></b></p>
  </td>
 <td valign=top width=4% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=26% style="border-bottom:solid windowtext 1.0pt;padding:0in 2.35pt 0in 2.35pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Name of each exchange</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">on which registered</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=70% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">American
  Depositary Shares representing Series B Shares, par value 50 Rupiah per share</font></p>
  </td>
 <td valign=top width=4% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=26% style="padding:0in 2.35pt 0in 2.35pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">New
  York Stock Exchange</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=70% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;">Series B Shares, par value 50 Rupiah per
  share</font></p>
  </td>
 <td valign=top width=4% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=26% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;">New York Stock Exchange*</font></p>
  </td>
 </tr>
<tr>
  <td colspan=4 valign=top width=100% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Securities registered or to be
  registered pursuant to Section 12(g) of the Act. </font></p>
  <p align=center style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:.2in;"><b><font face="Times New Roman" style="font-size:10.0pt;">None</font></b></p>
  </td>
 </tr>
<tr>
  <td colspan=4 valign=top width=100% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Securities for which there is a
  reporting obligation pursuant to Section 15(d) of the Act. </font></p>
  <p align=center style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:.2in;"><b><font face="Times New Roman" style="font-size:10.0pt;">None</font></b></p>
  </td>
 </tr>
<tr>
  <td colspan=4 valign=top width=100% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Indicate
  the number of outstanding shares of each of the issuer&#8217;s classes of capital
  or common stock as of the close of the period covered by the Annual Report:</font><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=3 valign=top width=83% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Series
  A Dwiwarna Share, par value 50 Rupiah per share</font></p>
  </td>
 <td valign=top width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">1</font></p>
  </td>
 </tr>
<tr>
  <td colspan=3 valign=top width=83% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Series B Shares, par value 50 Rupiah per share</font></p>
  </td>
 <td valign=top width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 100,799,996,399</font></p>
  </td>
 </tr>
<tr height=0>
  <td width=70%>&nbsp;</td>
 <td width=4%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=17%>&nbsp;</td>
 </tr>
</table>

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=center>

<table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:746.000000pt;">
 <tr>
  <td colspan=5 valign=top width=100% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=5 valign=top width=100% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Indicate by check mark if the registrant
  is a well-known seasoned issuer, as defined in Rule 405 of the Securities
  Act. </font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Yes </font><b><font face="wingdings 2" style="font-size:10.0pt;">R&nbsp;</font></b><font face="Times New Roman" style="font-size:10.0pt;"> No </font><font face=wingdings style="font-size:10.0pt;">&#168;&nbsp;</font></p>
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=5 valign=top width=100% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">If this report is an annual or
  transition report, indicate by check mark if the registrant is not required
  to file reports pursuant to Section 13 or 15(d) of the Securities Exchange
  Act of 1934. </font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Yes </font><font face=wingdings style="font-size:10.0pt;">&#168;&nbsp;</font><font face="Times New Roman" style="font-size:10.0pt;"> No </font><b><font face="wingdings 2" style="font-size:10.0pt;">R&nbsp;</font></b></p>
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=5 valign=top width=100% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Indicate by check mark whether the registrant
  (1) has filed all reports required to be filed by Section 13 or 15(d) of the
  Securities Exchange Act of 1934 during the preceding 12 months (or for such
  shorter period that the Registrant was required to file such reports) and (2)
  has been subject to such filing requirements for the past 90 days. </font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Yes </font><b><font face="wingdings 2" style="font-size:10.0pt;">R&nbsp;</font></b><b><font face="Times New Roman" style="font-size:10.0pt;"> </font></b><font face="Times New Roman" style="font-size:10.0pt;">No </font><font face=wingdings style="font-size:10.0pt;">&#168;&nbsp;</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=5 valign=top width=100% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Indicate by check mark whether the
  registrant has submitted electronically and posted on its corporate Web site,
  if any, every Interactive Data File required to be submitted and posted
  pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for
  such shorter period that the registrant was required to submit and post such
  files). </font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Yes </font><font face=wingdings style="font-size:10.0pt;">&#168;&nbsp;</font><font face="Times New Roman" style="font-size:10.0pt;"> No </font><b><font face="wingdings 2" style="font-size:10.0pt;">R&nbsp;</font></b></p>
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=5 valign=top width=100% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Indicate by check mark whether the
  registrant is a large accelerated filer, an accelerated filer, or a
  non-accelerated filer. See definition of &#8220;accelerated filer and large
  accelerated filer&#8221; in Rule 12b-2 of the Exchange Act. (Check one):</font></p>
  </td>
 </tr>
<tr>
  <td colspan=3 valign=top width=36% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Large accelerated filer </font><b><font face="wingdings 2" style="font-size:10.0pt;">R&nbsp;</font></b></p>
  </td>
 <td valign=top width=32% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Accelerated filer </font><font face=wingdings style="font-size:10.0pt;">&#168;&nbsp;</font></p>
  </td>
 <td valign=top width=32% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Non-accelerated filer </font><font face=wingdings style="font-size:10.0pt;">&#168;&nbsp;</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;text-indent:.2in;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=5 valign=top width=100% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Indicate by checkmark which
  basis of accounting the registrant has used to prepare the financial
  statements included in this filing:</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">U.S. GAAP </font><font face=wingdings style="font-size:10.0pt;">&#168;&nbsp;</font><font face="Times New Roman" style="font-size:10.0pt;"> International
  Financial Reporting Standards as issued by the International Accounting
  Standards Board </font><b><font face="wingdings 2" style="font-size:10.0pt;">R
  </font></b><font face="Times New Roman" style="font-size:10.0pt;">Other </font><font face=wingdings style="font-size:10.0pt;">&#168;&nbsp;</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">If &#8220;Other&#8221; has been checked in response
  to the previous question, indicate by checkmark which financial statement
  item the registrant has elected to follow. </font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Item 17 </font><font face=wingdings style="font-size:10.0pt;">&#168;&nbsp;</font><font face="Times New Roman" style="font-size:10.0pt;"> Item 18 </font><font face=wingdings style="font-size:10.0pt;">&#168;&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=5 valign=top width=100% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">If this is an Annual Report, indicate by
  check mark whether the registrant is a shell company (as defined in Rule
  12b-2 of the Exchange Act). </font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;text-indent:.2in;"><font face="Times New Roman" style="font-size:10.0pt;">Yes </font><font face=wingdings style="font-size:10.0pt;">&#168;&nbsp;</font><font face="Times New Roman" style="font-size:10.0pt;"> No </font><b><font face="wingdings 2" style="font-size:10.0pt;">R&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=15% style="padding:0in 2.35pt 0in 2.35pt;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=3 valign=top width=85% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=4 valign=top width=98% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 <td colspan=4 valign=top width=98% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;">The Series B Shares were registered in connection
  with the registration of American Depositary Shares (&#8220;ADSs&#8221;). The Series B
  Shares are not listed for trading on the New York Stock Exchange.</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=5 valign=top width=100% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr height=0>
  <td width=2%>&nbsp;</td>
 <td width=13%>&nbsp;</td>
 <td width=21%>&nbsp;</td>
 <td width=32%>&nbsp;</td>
 <td width=32%>&nbsp;</td>
 </tr>
</table>

</div>




<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><a name=TOC></a></p></div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_3"></a><a name="_bclPageBorder3"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader3"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">TABLE OF CONTENTS</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td valign=top width=87% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#DEF"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">DEFINITIONS</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">1</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=87% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#CDCGI"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">CERTAIN DEFINITIONS,
  CONVENTIONS AND GENERAL INFORMATION</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">8</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=87% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#FLS"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">FORWARD-LOOKING
  STATEMENTS</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">8</font></p>
  </td>
 </tr>
</table></div>

<p align=center style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">PART I</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 1</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#IDSMA"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">IDENTITY OF
  DIRECTORS, SENIOR MANAGEMENT AND ADVISERS</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">9</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 2</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#OSET"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">OFFER STATISTICS AND
  EXPECTED TIMETABLE</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">9</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 3</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#KI"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">KEY INFORMATION</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">9</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 4</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#ITC"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">INFORMATION ON THE
  COMPANY</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">24</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 4A</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#USC"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">UNRESOLVED STAFF
  COMMENTS</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">58</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 5</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#OFRP"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">OPERATING AND
  FINANCIAL REVIEW AND PROSPECTS</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">58</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 6</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#DSME"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">DIRECTORS, SENIOR
  MANAGEMENT AND EMPLOYEES</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">81</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 7</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#MSRPT"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">MAJOR SHAREHOLDERS
  AND RELATED PARTY TRANSACTIONS</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">95</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 8</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#FI"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">FINANCIAL INFORMATION</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">99</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 9</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#TOAL"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">THE OFFER AND LISTING</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">100</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 10</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#ADDIN"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ADDITIONAL
  INFORMATION</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">103</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 11</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#QQD"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">QUANTITATIVE AND
  QUALITATIVE DISCLOSURE ABOUT MARKET RISK</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">111</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 12</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#DSOES"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">DESCRIPTION OF
  SECURITIES OTHER THAN EQUITY SECURITIES</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">122</font></p>
  </td>
 </tr>
</table></div>

<p align=center style="margin-bottom:10.0pt;margin-left:.75in;margin-right:0in;margin-top:12.0pt;text-align:center;text-indent:-.75in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">PART II</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 13</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#DDAD"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">DEFAULTS, DIVIDEND
  ARREARAGES AND DELINQUENCIES</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">117</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 14</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#MMRS"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">MATERIAL MODIFICATIONS
  TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">117</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 15</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#CP"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">CONTROLS AND PROCEDURES</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">117</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 16A</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#ACFE"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">AUDIT COMMITTEE
  FINANCIAL EXPERT</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">118</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 16B</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#COE"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">CODE OF ETHICS</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">118</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 16C</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#PAFS"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">PRINCIPAL ACCOUNTANT
  FEES AND SERVICES</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">118</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 16D</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#ELAC"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">EXEMPTIONS FROM THE
  LISTING STANDARDS FOR AUDIT COMMITTEES</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">119</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 16E</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#PESIAP"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">PURCHASES OF EQUITY
  SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">120</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 16F</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#CRCA"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">CHANGE IN REGISTRANT&#8217;S
  CERTIFYING ACCOUNTANT</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">120</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 16G</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#CG"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">CORPORATE GOVERNANCE</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">120</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 16H</font></p>
  </td>
 <td valign=top width=71% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#MSD"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">MINE SAFETY DISCLOSURE</font></u></a></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">121</font></p>
  </td>
 </tr>
</table></div>

<p align=center style="margin-bottom:10.0pt;margin-left:.75in;margin-right:0in;margin-top:12.0pt;text-align:center;text-indent:-.75in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">PART III</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 17</font></p>
  </td>
 <td valign=top width=70% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#FS1"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">FINANCIAL STATEMENTS</font></u></a></p>
  </td>
 <td valign=top width=14% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">122</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 18</font></p>
  </td>
 <td valign=top width=70% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#FS2"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">FINANCIAL STATEMENTS</font></u></a></p>
  </td>
 <td valign=top width=14% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">122</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">ITEM 19</font></p>
  </td>
 <td valign=top width=70% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#EX"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">EXHIBITS</font></u></a></p>
  </td>
 <td valign=top width=14% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">122</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=70% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=14% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">EXHIBITS 1.1</font></p>
  </td>
 <td valign=top width=70% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#EXB1"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Articles of
  Association (as amended on April 19, 2015)</font></u></a></p>
  </td>
 <td valign=top width=14% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">124</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">EXHIBITS 12.1</font></p>
  </td>
 <td valign=top width=70% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#EXB2"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">CEO Certification
  pursuant to section 302</font></u></a></p>
  </td>
 <td valign=top width=14% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">151</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">EXHIBITS 12.2</font></p>
  </td>
 <td valign=top width=70% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#EXB3"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">CFO Certification
  pursuant to section 302</font></u></a></p>
  </td>
 <td valign=top width=14% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">152</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">EXHIBITS13.1</font></p>
  </td>
 <td valign=top width=70% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#EXB4"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">CEO Certification
  pursuant to section 906</font></u></a></p>
  </td>
 <td valign=top width=14% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">153</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">EXHIBITS13.2</font></p>
  </td>
 <td valign=top width=70% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#EXB5"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">CFO Certification
  pursuant to section 906</font></u></a></p>
  </td>
 <td valign=top width=14% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">154</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=16% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#SIGN2"><u><font color=blue face="Times New Roman" style="font-size:10.0pt;line-height:normal;">SIGNATURES</font></u></a></p>
  </td>
 <td valign=top width=70% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=14% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_4"></a><a name="_bclPageBorder4"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><b><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></b></a></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:center;"><a name=DEF></a><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">DEFINITIONS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">3G</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
generic term for third generation mobile telecommunications technology. 3G offers
high speed connections to cellular phones and other mobile devices, enabling
video conference and other applications requiring broadband connectivity to the
internet.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">3.5G</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A
grouping of disparate mobile telephony and data technologies designed to provide
better performance than 3G systems, as an interim step towards deployment of
full 4G capability.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">4G/LTE</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">A fourth generation super fast internet network technology based on
Internet Protocol (IP) that makes the process of data transfer much faster and
stable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Adjusted
EBITDA</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We
calculate A</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">djusted </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">EBITDA by calculating operating profit before
interest, tax, depreciation and amortization, loss on foreign exchange, other
income and other expenses. Adjusted EBITDA and other related ratios in this
Annual Report serve as additional indicators on our performance and liquidity,
which is a non-GAAP financial measure. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ADS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">American
Depositary Share (also known as an American Depositary Receipt, or an &#8220;ADR&#8221;), a
certificate traded on a U.S. securities market (such as New York Stock
Exchange) representing a number of foreign shares. Each of our ADS represents
200 of our Series B shares having a par value of Rp50 per share (&quot;common
stock&quot;).</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ADSL</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Asymmetric Digital
Subscriber Line, a type of digital subscriber line technology, a data
communications technology that enables faster data transmission over copper
telephone lines than a conventional voice band modem can provide.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">APMK</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Alat
Pembayaran Menggunakan Kartu</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> or
card-based payment instruments, a payment instrument in the form of credit
cards, Automated Teller Machine (&#8220;ATM&#8221;) and/or debit cards.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ARPU</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Average
Revenue per User, a measure used primarily by telecommunications and networking
companies which states how much money we make from the average user. It is defined
as the total revenue from specified services divided by the number of consumers
for those services.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Backbone</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
main telecommunications network consisting of transmission and switching
facilities connecting several network access nodes. The transmission links
between nodes and switching facilities include microwave, submarine cable,
satellite, optical fiber and other transmission technology.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Bandwidth</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
capacity of a communication link.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Bapepam-LK</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Badan
Pengawas Pasar Modal dan Lembaga Keuangan</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, or the Indonesian Capital Market and Financial Institution
Supervisory Agency, the predecessor to the OJK.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Broadband</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A
signaling method that includes or handles a relatively wide range (or band) of
frequencies.</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">BSC</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Base
Station Controller, an equipment responsible for radio resource allocation to
mobile station, frequency administration and handover between BTSs controlled
by the BSC.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">BSS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Base
Station Subsystem, the section of a cellular telephone network responsible for
handling traffic and signaling between a mobile phone and the network switching
subsystem. A BSS is composed of two parts: the BTS and the BSC.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">BTS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Base
Transceiver Station, equipment that transmits and receives radio telephony
signals to and from other telecommunication systems.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">BWA</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Broadband Wireless
Access, a technology that provides high speed wireless internet access or
computer networking access over a wide area.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">CDMA</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Code
Division Multiple Access, a </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-decoration:none;">transmission technology where
each transmission is sent over multiple frequencies and a unique code is
assigned to each data or voice transmission, allowing multiple users to share
the same frequency spectrum.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">CPE</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Customer
Premises Equipment, any handset,
receiver, set-top box or other equipment used by the consumer of wireless,
fixed line or broadband services, which is the property of the network operator
and located on the customer premises.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">DCS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Digital
Communication System, a mobile cellular system using GSM technology operating
in the 1.8 GHz frequency band.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Defined
Benefit Pension Plan</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A
type of pension plan in which an employer promises a specified monthly benefit
on retirement that is predetermined by a formula based on the employee&#8217;s
earnings history, tenure of service and age, rather than depending on
investment returns. It is considered &#8216;defined&#8217; in the sense that the formula
for computing the employer&#8217;s contribution is known in advance.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Defined
Contribution Pension Plan</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A
type of retirement plan in which the amount of the employer&#8217;s annual
contribution is specified. Individual accounts are set up for participants and
benefits are based on the amounts credited to these accounts (through employer
contributions and, if applicable, employee contributions) plus any investment
earnings on the money in the account. Only employer contributions to the
account are guaranteed, not the future benefits. In defined contribution plans,
future benefits fluctuate on the basis of investment earnings.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">DLD<br>
</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Domestic Long Distance, a long
distance call service designed for customers who live in different areas but
still within one country. These areas normally have different area codes.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">DTH</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Direct-to-Home
satellite broadcasting, the distribution of television signals from
high-powered geostationary satellites to small dish antennas and satellite
receivers in homes across the country.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">e-Business<br>
</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Electronic Business solutions,
including electronic payment services, internet data centers and content and
application solutions. </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-decoration:none;">Refer to &#8220;New Economy Business (&#8220;NEB&#8221;) and Strategic
Business Opportunities Portfolio&#8221; under Business Overview.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">e-Commerce</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Electronic Commerce, the buying and selling of products or services over electronic systems such as the internet and
other computer networks. </font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-GB style="font-size:8.0pt;font-weight:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">e-Money</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Electronic Money,
money
or script that is only exchanged electronically.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">e-Payment</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-decoration:none;">Also known as
electronic funds transfer, the</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
electronic exchange or transfer of money from one account to another, either
within a single financial institution or across multiple institutions, through computer-based
systems.</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">E1
</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
backbone transmission unit which operates over two separate sets of wires,
usually twisted pair cable. E1 data rate is 2,048 Mbps (full duplex), which is
divided into 32 timeslots.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Earth
Station</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
antenna and associated equipment used to receive or transmit telecommunication
signals via satellite.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">EDGE</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Enhanced Data rates for GSM Evolution, a digital mobile
phone technology that allows improved
data transmission rates as a backward-compatible extension of GSM.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Edutainment</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Education
and Entertainment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Fixed
Line</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Fixed
wireline and fixed wireless.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Fixed
Wireless</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The local wireless transmission link using a cellular,
microwave, or radio technology to connect customers at a fixed location to the
local telephone exchange.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Fixed
Wireline</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A
fixed wire or cable path linking a subscriber at a fixed location to a local
exchange, usually with an individual phone number.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">FTT</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">H&nbsp;</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"><br>
</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">F</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">iber </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">T</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">o </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">T</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">he </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">H</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">ome&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> are
the implementation of fiber optic network that reaches up to customer point or
known as customer premise.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Gateway</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A
peripheral that bridges a packet based network (IP) and a circuit based network
(PSTN).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Gb</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Gigabyte, a unit
of information used, for example, to quantify computer memory or storage
capacity.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Gbps </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Gigabyte per second,
the average number of bits, characters, or blocks per unit time passing between
equipment in a data transmission system. This is typically measured in
multiples of the unit bit per second or byte per second.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">GHz</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Gigahertz.
The hertz (symbol Hz), the international standard unit of frequency defined as the number of cycles per second
of a periodic phenomenon.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">GMS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">General
Meeting of Shareholders, which may be an Annual General Meeting of Shareholders
(&#8220;AGMS&#8221;) or an Extraordinary General Meeting of Shareholders (&#8220;EGMS&#8221;).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">GPON</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Gigabyte-Passive
Optical Network, the most widely deployed
type of passive optical network system that brings optical fiber cabling and
signals all or most of the way to end users.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">GPRS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">General
Packet Radio Service, a data packet switching technology that allows
information to be sent and received across a mobile network and only utilizes
the network when there is data to be sent.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">GSM</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Global
System for Mobile Telecommunication, a European standard for digital cellular
telephone.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-decoration:none;">Homepass</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-decoration:none;">A connection
with access to fixed line voice, IPTV and broadband services.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">IDD</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">International
Direct Dialing, a service that allows a subscriber to make an international
call without the assistance or intervention of an operator from any telephone
terminal.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">IMT-2000</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">International
Mobile Telecommunications-2000, a body of
specifications provided by the International
Telecommunication Union. Application
services include wide area wireless voice telephone, mobile
internet access, video calls and mobile TV, all
in a mobile environment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Installed
Lines&#160;&#160;&#160; </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Complete
lines fully built-out to the distribution point and ready to be connected to
subscribers.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Interconnection</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The physical linking
of a carrier&#8217;s network with equipment or facilities not belonging to that
network.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">IP</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Internet
Protocol, the method or protocol by which data is sent from one computer to
another on the internet.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">IP
Core</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A
block of logic data that is used in making a field programmable gate array </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-decoration:none;">or application-specific integrated circuit </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">for a product.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">IP
DSLAM</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Internet
Protocol-Digital Subscriber Line Access Multiplexer, a network device located
near the customer&#8217;s location that allows telephone lines to make faster
connections to the internet by connecting multiple customer Digital Subscriber
Lines (DSLs) to a high-speed internet backbone line using multiplexing
techniques.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">IPO</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Initial Public Offering, the first sale of stock by a company to the
public.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">IPTV</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Internet
Protocol Television, a system through which television services are delivered
using the Internet Protocol suite over a packet-switched network such as the
internet, instead of being delivered through traditional terrestrial, satellite
signal, and cable television formats.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ISP</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Internet
Services Provider</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,&nbsp;</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> an organization
that provides access to the internet.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">KSO</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Kerjasama Operasi, </font></i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">a
form of joint operation agreement that includes build, operate and transfer </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">which arrangement was previously</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> used by Telkom, in which the consortium partners
invest and operate facilities owned by Telkom in regional divisions. The
consortium partners are owned by international operators and national private
companies or Telkom.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">KPPU</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Komisi Pengawasan Persaingan Usaha</font></i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, or Commission for the Supervision of Business
Competition</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Lambda</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Lambda
indicates the wavelength of any wave, especially in physics, electronics
engineering and mathematics.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Leased
Line</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A
dedicated telecommunications transmissions line linking one fixed point to
another, rented from an operator for exclusive uses.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Mbps</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Megabyte
per second, a measure of speed for digital signal transmission expressed in
millions of bits per second.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Metro
Ethernet</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Bridge
or relationship between locations that are apart geographically, this network
connects LAN customers at several different locations.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">MHz</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Megahertz,
a unit of measure of frequency equal to one million cycles per second.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Mobile Broadband</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The marketing term for wireless internet access
through a portable modem, mobile phone, USB Wireless Modem or other mobile devices.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">MoCI</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
Ministry of Communication and Information, to which regulatory responsibility
over telecommunications was transferred from the Ministry of Communication
(&#8220;MoC&#8221;) in February 2005.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">MSAN</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Multi
Service Access Node, represent the third generation of optical access network
technology and are single platforms capable of supporting traditional, widely
deployed, access technologies and services as well as emerging ones, while
simultaneously providing a gateway to a NGN core. MSAN will enable us to
provide triple play services that distribute high speed internet access, voice
packet services and IPTV services simultaneously through the same
infrastructure.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">MSOE</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Kementerian
Badan Usaha Milik Negara</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, or the Ministry
of State-Owned Enterprises.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Network Access Point</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A public network exchange facility where ISPs connected
with one another in peering arrangements. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">NGN</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Next
Generation Network, a general term that refers to a packet-based network able
to provide services, including telecommunication services, and able to make use
of multiple broadband, quality of service enabled transport technologies and in
which service-related functions are independent from underlying transport
related technologies. A NGN is intended to be able to, with one network,
transport various services (voice, data, and various media such as video) by
encapsulating these into packets, similar to how such packets are transmitted
on the internet. NGNs are commonly built around the Internet Protocol.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Node
B</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A
BTS for a 3G W-CDMA/UMTS network.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-decoration:none;">OJK</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-decoration:none;">Otoritas Jasa
Keuangan</font></i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-decoration:none;">, or the
Indonesian Financial Services Authority, the successor of Bapepam-LK, is an independent
institution with authority to regulate and supervise financial services
activities in the banking sector, capital market sector as well as non-bank
financial industry sector.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Optical
Fiber</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Cables
using optical fiber and laser technology through which modulating light beams
representing data are transmitted through thin filaments of glass.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Over The Top </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A
generic term commonly used to refer to the delivery of audio, video and other
media over the internet without the involvement of a multiple-system operator
in the control or distribution of the content</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Pay TV</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Pay
Television, premium television, or premium
channels, subscription-based television services, usually provided by both analog and digital cable and satellite, but
also increasingly via digital terrestrial and internet
television.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">PDN</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Packet
Data Network, a digital communications network which breaks a group data to be
transmitted into segments called packets, which are then routed independently.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">PKLN</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Tim
Pinjaman Komersial Luar Negeri</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, or
Foreign Commercial Loan Coordinating Team, an inter-agency team of the
Government charged with, among others, considering requests of Indonesian
State-Owned Enterprises such as us for consent to obtain foreign commercial
loans.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">POWL</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=X-NONE style="font-size:10.0pt;">Public Offering Without Listing.</font><font face="times new roman" lang=IN style="font-size:10.0pt;"> &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=X-NONE style="font-size:10.0pt;">Premium SMS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Premium </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Short Message Service, a text
messaging service component of phone,
web, or mobile communication systems, using standardized communications protocols that allow the exchange of short text messages between fixed line or mobile phone
devices.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">PSTN</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Public
Switched Telephone Network, a telephone network operated and maintained by us
and the KSO Units for us and on our behalf.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Pulse</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
unit in the calculation of telephone charge.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Radio Frequency
Spectrum</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The part of the electromagnetic spectrum corresponding
to radio frequencies, i.e. frequencies lower than around 300 GHz (or,
equivalently, wavelengths longer than about 1 mm).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">RIO</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Reference
Interconnection Offer, a regulatory term covering all facilities, including
interconnection tariffs, technical facilities and administrative issues offered
by one telecommunications operator to other telecommunications operator for
interconnection access.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">RMJ<br>
</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Regional Metro Junction, an inter-city
cable network installation service in one regional (region/province).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Roaming</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A
general term referring to the extension of connectivity service in a location
that is different from the home location where the service was registered.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Satellite
Transponder</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Radio
relay equipment embedded in a satellite that receives signals from earth and
amplifies and transmits the signal back to the earth.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">SCCS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Submarine Communications Cable System, a cable laid on the sea bed between land-based
stations to carry telecommunication signals across stretches of ocean. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">SME</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Small
and Medium Enterprise.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">SMS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Short
Messaging Service, a technology allowing the exchange of text messages between
mobile phones and between fixed wireless phones.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">SOE</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">State-Owned
Enterprise, a Government-owned
corporation, state-owned company, state-owned entity, state enterprise, publicly
owned corporation, Government business enterprise, or parastatal, a legal
entity created by a Government to undertake commercial activities on behalf of an owner Government.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Softswitch</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A
central device in a telephone network that connects calls from one phone line
to another, entirely by means of software running on a computer system. This
work was formerly carried out by hardware, with physical switchboards to route
the calls.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">STM-1</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;">Synchronous Transport Module level-1, the SDH ITU-T fiber optic network
transmission standard with a bit rate of 155.52 Mbps. The other standards are
STM-4, STM-16 and STM-64.</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Switch</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A
mechanical, electrical or electronic device that opens or closes circuits,
completes or breaks an electrical path, or selects paths or circuits, used to
route traffic in a telecommunications network.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Terra Router</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Terra Router or terabit router on the theory allows
the network capacity on a scale of terabits (1 terabit = 1 million gigabits).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">TIME</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">S&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Telecommunication,
Information, Media</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> Edutainment</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> and Service</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">TPE</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">a
normalized way to refer to transponder bandwidth it simple means how many
transponders would be used if the same total bandwidths used only 36 Mt
transponder (1 TPE = 36 MHz).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">UMTS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Universal
Mobile Telephone System, one of the 3G mobile systems being developed within
the ITU&#8217;s IMT-2000 framework.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">USO</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Universal
Service Obligation, the service obligation imposed by the Government on all
telecommunications services providers for the purpose of providing public
services in Indonesia.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">VoIP</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Voice
over Internet Protocol, a means of sending voice information using the IP.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">VPN</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Virtual
Private Network, a secure private network connection, built on top of
publicly-accessible infrastructure, such as the internet or the public
telephone network. VPNs typically employ some combination of encryption,
digital certificates, strong user authentication and access control to secure
the traffic they carry. These provide connectivity to many machines behind a
gateway or firewall.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">VSAT</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Very
Small Aperture Terminal, a relatively small antenna, typically 1.5 to 3.0
meters in diameter, placed in the user&#8217;s premises and used for two-way
communications by satellite.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><b><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></b></a></p>

<p align=center style="margin:0in;margin-bottom:12.0pt;text-align:center;"><a name=CDCGI></a><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:12.0pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">CERTAIN DEFINITIONS, CONVENTIONS AND GENERAL
INFORMATION</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Unless
the context otherwise requires, references in this Form 20-F to the &#8220;Company&#8221;,
&#8220;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Telkom</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#8221;, &#8220;we&#8221;, &#8220;us&#8221;, and &#8220;our&#8221; are to Perusahaan Perseroan </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">(Persero) </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">PT </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Telkom&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
Indonesia Tbk and its consolidated subsidiaries. All references to &#8220;Indonesia&#8221;
are references to the Republic of Indonesia. All references to the &#8220;Government&#8221;
herein are references to the Government of the Republic of Indonesia.
References to &#8220;United States&#8221; or &#8220;US&#8221; are to the United States of America.
References to &#8220;United Kingdom&#8221; or &#8220;UK&#8221; are to the United Kingdom of Great
Britain and Northern Ireland. References to &quot;Rupiah&quot;, &#8220;Indonesian
Rupiah&#8221; or &#8220;Rp&#8221; are to the lawful currency of Indonesia. References to &#8220;US
Dollar&#8221; or &#8220;US$&#8221; are to the lawful currency of the United States. Certain
figures (including percentages) have been rounded for convenience, and
therefore indicated and actual sums, quotients, percentages and ratios may
differ. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Our
consolidated financial statements as of December 31, 2014 and 2015 and for
the years ended December 31, 2013, 2014 and 2015 included in this Form 20-F (the &#8220;Consolidated
Financial Statements&#8221;) have been prepared in accordance with International
Financial Reporting Standards (&#8220;IFRS&#8221;) as issued by the International Accounting Standards
Board (&#8220;IASB&#8221;). </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">T</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">he financial statements of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">10 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">of
our subsidiaries </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">have been</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> consolidated into the Consolidated Financial Statements.
The </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">10 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">companies are PT Telekomunikasi Selular (&#8220;Telkomsel&#8221;,
in which we own a 65.0% stake), PT Dayamitra Telekomunikasi (&#8220;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Mitratel</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#8221;, a
wholly-owned subsidiary), PT Multimedia Nusantara (&#8220;Metra&#8221;, a wholly-owned
subsidiary), PT Telekomunikasi Indonesia International (</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&#8220;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Telin</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&#8221;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, a
wholly-owned subsidiary), PT </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">PIN</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">S&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> Indo</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">n</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">esia&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> (&#8220;PINS&#8221;,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">
previously PT Pramindo Ikat Nusantara,</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> a
wholly-owned subsidiary), PT Graha Sarana Duta (&#8220;Telkom Property&#8221;, in which we
own a 99.99% stake), PT Telkom Akses (&#8220;Telkom Akses&#8221;, a wholly-owned
subsidiary), PT Patra Telekomunikasi Indonesia (&#8220;Patrakom&#8221;, a wholly-owned
subsidiary)</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, PT Infrastruktur Tel</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">e</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">komunikasi
Indonesia (&#8220;Telkom Infratel&#8221;, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">a
wholly-owned subsidiary)</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">PT Napsindo Primatel Internasional (&#8220;Napsindo&#8221;, in
which we own a 60% stake). See Note 1d to our Consolidated Financial
Statements. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Solely for the
convenience of the reader, certain Indonesian Rupiah amounts have been
converted into US Dollars at specified rates. Unless otherwise indicated, US
Dollars equivalent information for amounts in Indonesian Rupiah are converted
at the Reuters Rate for December 31, 2015 at 04.00PM Jakarta time, which was Rp13,785 to US$1.00. The
exchange rate of Indonesian Rupiah for US Dollars on March 28, 2016 was Rp13,323
to US$1.00 based on the middle exchange which is calculated based on the Bank
Indonesia buying and selling rate. The Federal Reserve Bank of New York does
not certify for customs purposes a noon buying rate for cable transfers in
Indonesian Rupiah. No representation is made that the Indonesian Rupiah or US
Dollar amounts shown herein could have been or could be converted into US
Dollar or Indonesian Rupiah, as the case may be, at any particular rate or at
all. See Item 3 &#8220;Key Information &#8211; Selected Financial Data &#8211; Exchange Controls&#8221;
for further information regarding rates of exchange between the Indonesian
Rupiah and the US Dollar.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><a name=FLS></a><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">FORWARD-LOOKING STATEMENTS</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">This Form 20-F
contains &#8220;forward-looking statements&#8221; as defined in Section 27A of the US
Securities Act of 1933, as amended (&#8220;Securities Act&#8221;) and Section 21E of the US
Securities Exchange Act of 1934, as amended (&#8220;Exchange Act&#8221;), within the
meaning of the Private Securities Litigation Reform Act of 1995, including
statements regarding our expectations and projections for our future operating
performance and business prospects. The words &#8220;believe&#8221;, &#8220;expect&#8221;,
&#8220;anticipate&#8221;, &#8220;estimate&#8221;, &#8220;project&#8221; and similar words identify forward-looking
statements. In addition, all statements other than statements of historical facts
included in this Form 20-F are forward-looking statements. Although we believe
that the expectations reflected in the forward-looking statements herein are
reasonable, we can give no assurance that such expectations will prove to be
correct. These forward-looking statements are subject to a number of risks and
uncertainties, including changes in the economic, social and political
environments in Indonesia. This Form 20-F discloses, under Item 3 &#8220;Key
Information &#8211; Risk Factors&#8221; and elsewhere, important factors that could cause
actual results to differ materially from our expectations.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">PART I</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ITEM 1. <a name=IDSMA></a>IDENTITY OF
DIRECTORS, SENIOR MANAGEMENT AND ADVISERS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Not applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><a name=OSET></a><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ITEM 2. OFFER STATISTICS
AND EXPECTED TIMETABLE</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Not applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ITEM 3. <a name=KI></a>KEY INFORMATION</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">A.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">SELECTED FINANCIAL DATA</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
following tables present our selected consolidated financial information and
operating statistics as of the dates and for each of the periods indicated. The
selected financial information as of and for the years ended December 31, 2011,
201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, 2013, 2014 and 2015 presented below is based upon
our audited Consolidated Financial Statements prepared in conformity with IFRS
as issued by the IASB. The selected financial information as of and for the
years ended December 31, 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">1</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, 2013, 2014 and 2015 should be read in conjunction
with, and is qualified in its entirety by reference to, our audited
Consolidated Financial Statements, including the notes thereto, and the other
information include elsewhere in this Form 20-F and in our previous Form 20</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">-</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">F filed
with the SEC on April </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">5</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">. &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
Public Accountant Firm (&#8220;KAP&#8221;) Purwantono, Sungkoro &amp; Surja (formerly
Purwantono, Suherman &amp; Surja) (a member firm of Ernst &amp; Young Global
Limited) (&quot;Purwantono, Sungkoro &amp; Surja&quot;) audited our
consolidated financial statements as of and for the years ended December 31,
2012, 2013, 2014 and 2015. Our consolidated financial statements as of and for
the year ended December 31, 2011 were audited by KAP Tanudiredja, Wibisana
&amp; Rekan (a member firm of the PwC global network).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=31% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=11 valign=bottom width=69% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Years Ended December 31,</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2011</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2012</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(US$ million)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=11 valign=bottom width=69% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">except for per share and per ADS amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Key Consolidated Statements of</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Profit or Loss and Other</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Comprehensive Income Data<sup> </sup></font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">IFRS<sup> </sup></font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Revenues<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">71,238</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">77,127</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">82,967</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">89,696</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">102,470</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7,433</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Expenses<sup>(1)</sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">49,880</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">54,200</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">57,850</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">61,617</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">71,603</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,194</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Adjusted EBITDA<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">36,593</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">39,574</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">41,680</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">45,684</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">51,404</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,728</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Operating Profit<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">22,034</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">25,497</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">27,727</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">29,172</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">32,369</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,348</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Profit before Income Tax<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">20,982</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">24,027</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">27,030</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">28,579</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">31,293</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,270</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Net Income Tax Expense<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(5,437</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(5,886</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(6,900</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(7,341</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(8,023</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(582</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Profit for the Year<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15,545</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">18,141</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">20,130</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">21,238</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">23,270</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,688</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Attributable to owners of the parent company<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">11,043</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,621</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,046</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,437</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15,451</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,121</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Attributable to non-controlling interests<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,502</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,520</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6,084</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6,801</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7,819</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">567</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Other Comprehensive Income (Expenses) - Net<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(1,928</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(2,540</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,115</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">810</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">493</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">36</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Net Comprehensive Income for the Year<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">13,617</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15,601</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">25,245</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">22,048</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">23,763</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,724</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Attributable to owners of the parent company<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9,183</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">10,056</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">19,018</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15,291</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">16,003</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,161</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Attributable to non-controlling interests<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,434</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,545</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6,227</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6,757</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7,760</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">563</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Weighted average number of shares outstanding (in
  millions)<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">97,959</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">96,011</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">96,359</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">97,696</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,177</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_13"></a><a name="_bclPageBorder13"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader13"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:7.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=31% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=11 valign=bottom width=69% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Years Ended December 31,</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2011</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2012</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(US$ million)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=11 valign=bottom width=69% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">except for per share and per ADS amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Basic and Diluted Earnings per Share (in full amount)<sup>
  </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Profit per share<sup>(2)</sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">112.73</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">131.45</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">145.77</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">147.78</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">157.38</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.01</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Profit per ADS (200 Series B shares per ADS)<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">22,546.00</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">26,290.80</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">29,153.58</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">29,556.53</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">31,475.66</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.28</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Dividend relating to the period (accrual basis, in
  full amount)</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Dividends declared per share<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">74.21</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">87.24</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">102.40</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">89.46</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Dividends declared per ADS<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,842</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">17,448</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">20,480</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">17,892</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Dividend paid in the period (cash basis, in full
  amount)<sup>(3)</sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Dividends declared per share<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">61.71</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">74.29</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">87.24</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">102.40</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">89.46</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.01</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Dividends declared per ADS<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,343</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,859</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">17,448</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">20,480</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">17,892</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.30</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;line-height:normal;">(1)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;line-height:normal;">Expenses are calculated as the sum
of the following expenses: operations, maintenance and telecommunication
service, depreciation and amortization, personnel, interconnection, general and
administrative, marketing, loss on foreign exchange - net, share of loss of
associated companies and other expenses.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(2)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">Using IFAS results, our profit for
the year attributable to owners of the parent company would be Rp10,965
billion, Rp12,850 billion, Rp14,205 billion</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">, Rp14,471</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;"> billion
and R</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">p15,489&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;"> billion for 2011</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;"> 2012, 2013</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">, </font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">2014&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> (As restated) and 2015</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">, and our net income per share would be Rp</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">111.93</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">, Rp</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">133.84</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">,
Rp147.42</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">, Rp148.13</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;"> and R</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">p157.77&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;"> for 2011</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;"> 2012, 2013</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">,
2014 (</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">A</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">s restated)</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;"> and
201</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">5</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">. We distribute dividends based on profit attributable to owners of the
parent company and net income per share determined in reliance on IFAS.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(3)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">In 2011, we paid a cash dividend
for 2010 of Rp</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">61.71&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;"> per share. In 2012, we paid a cash dividend for 2011
of Rp</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">74.29&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;"> per share. In 2013, we paid a cash dividend for 2012
of Rp</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">8</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">7</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">.</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">24 per share</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">.
I</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">n 2014, we paid a cash dividend for 2013
of Rp102.40 per share</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> and in 2015,
we paid a cash dividend for 2014 of Rp89.46 per share.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=31% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=11 valign=bottom width=69% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Years Ended December 31,</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2011</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2012</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(US$ million)</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Reconciliation of Operating Profit to Adjusted EBITDA</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Operating Profit<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">22,034</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">25,497</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">27,727</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">29,172</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">32,369</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,348</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Add:<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Depreciation and Amortization Expenses<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,823</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,474</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15,805</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">17,178</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">18,572</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,347</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Loss on foreign exchange - net<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">210</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">189</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">249</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">46</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Other </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">i</font><font face="Times New Roman" style="font-size:9.0pt;">ncome&nbsp;</font><sup><font face=calibri,sans-serif style="font-size:9.0pt;"> </font></sup></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(666</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(2,559</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(2,581</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(1,076</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(1,500</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(109</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Other expenses<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">192</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,973</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">480</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">396</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,917</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">139</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Adjusted EBITDA</font></b><font face=calibri,sans-serif style="font-size:9.0pt;"> </font><sup><font face="Times New Roman" style="font-size:9.0pt;">(1)</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">36,593</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">39,574</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">41,680</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">45,684</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">51,404</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,728</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(1)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">We calculate a</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">djusted </font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">EBITDA by
calculating operating profit before interest, tax, depreciation and
amortization, loss on foreign exchange, other income and other expenses. </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Adjusted </font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">EBITDA
and other related ratios in this Annual Report serve as additional indicators
on our performance and liquidity, which is a non</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">-</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">GAAP financial
measure. </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Adjusted </font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">EBITDA is presented because our management believes
that it is widely used by investors in their analysis of our performance and
can assist them in their comparison of our performance with those of other
companies in the telecommunications, information and media sector. We also
present </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">adjusted </font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">EBITDA because it is used by some investors as a way to
measure a company&#8217;s ability to incur and service debt, make capital
expenditures and meet working capital requirements. Companies in the
telecommunications, information and media sector have historically reported </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">adjusted </font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">EBITDA
as a supplement to financial measures in accordance with IFRS or US GAAP. </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Adjusted </font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">EBITDA
should not be considered as an alternative to net income as an indicator of our
performance, nor should </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">adjusted </font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">EBITDA be considered an alternative to cash flows from
operating activities as a measure of liquidity or as an alternative to any
other measure determined in accordance with IFRS. Unlike net income, </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">adjusted </font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">EBITDA
does not include depreciation and amortization or financing costs and,
therefore, does not reflect current or future capital expenditures or the cost
of capital. We compensate for these limitations by using </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">adjusted </font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">EBITDA as
only one of several comparative tools, together with IFRS-based measurements,
to assist in the evaluation of operating performance. Such IFRS-based
measurements include profit before income tax, profit for the year, cash flows
from operations and cash flow data. We have significant uses of cash flows,
including capital expenditures, interest payments, debt principal repayments,
taxes and other non-recurring charges, which are not reflected in </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">adjusted </font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">EBITDA.
Our calculation of </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">adjusted </font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">EBITDA may be different from the calculation methods
used by other companies and, therefore, comparability may be limited.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of
Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=top width=31% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;"> <sup> </sup></font></b></p>
  </td>
 <td colspan=11 valign=top width=69% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">As of December 31,</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> <sup> </sup></font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2011&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=11% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2012&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2013&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2014&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=top width=23% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2015&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> <sup> </sup></font></p>
  </td>
 <td valign=top width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(US$ million)</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> <sup> </sup></font></p>
  </td>
 <td colspan=11 valign=top width=69% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">except for per share</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Key Consolidated Statements of Financial Position
  Data</font></b><sup><font face="Times New Roman" style="font-size:9.0pt;"> </font></sup></p>
  </td>
 <td width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td width=1% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td width=11% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=10% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=10% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=10% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=12% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">IFRS</font></b><sup><font face="Times New Roman" style="font-size:9.0pt;"> </font></sup></p>
  </td>
 <td width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Cash and cash equivalents<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9,634</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">13,118</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,696</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">17,672</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">28,117</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,040</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Trade and other receivables<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,393</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,409</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7,018</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7,380</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7,872</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">571</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Advances and prepaid expenses<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,294</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,721</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,937</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,733</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,839</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">424</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Total Current Assets<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">21,401</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">27,973</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">33,672</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">34,294</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">47,912</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,476</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Property and equipment<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">74,638</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">76,908</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">86,599</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">94,602</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">103,455</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7,505</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Intangible assets<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,791</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,443</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,508</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,463</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,056</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">222</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Total Non-current Assets<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">80,965</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">82,238</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">94,721</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">107,321</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">118,016</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">8,561</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Total Assets<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">102,366</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">110,211</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">128,393</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">141,615</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">165,928</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,037</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Trade and other payables<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">8,355</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7,457</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,585</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,476</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,284</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,037</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Current income tax liabilities<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">729</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,280</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">942</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,501</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,802</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">131</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Accrued expenses<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,790</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6,163</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,264</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,211</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">8,247</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">598</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Unearned income<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,821</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,729</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,490</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,963</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,360</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">316</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Short-term loans and current maturities of long-term
  borrowings<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,913</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,658</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,525</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7,709</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,444</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">322</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Total Current Liabilities<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">22,189</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">24,108</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">29,034</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">32,318</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">35,413</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,569</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Deferred tax liabilities<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,159</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,252</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,908</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,703</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,110</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">153</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Pension benefit and other post-employment benefit
  obligations<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,372</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">8,184</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,258</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,115</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,171</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">303</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Long-term loans and other borrowings<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,958</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">13,617</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,731</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15,743</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">30,168</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,188</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Total Non-current Liabilities<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">22,018</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">24,734</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">22,705</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">23,365</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">37,332</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,708</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Total Liabilities<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">44,207</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">48,842</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">51,739</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">55,683</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">72,745</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,277</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Capital stock<sup>(1)</sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,040</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,040</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,040</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,040</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,040</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">366</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Net Equity Attributable to Owners of the Parent
  Company<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">44,844</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">46,055</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">59,753</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">67,646</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">74,934</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,436</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Non-controlling interests<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">13,315</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15,314</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">16,901</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">18,286</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">18,249</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,324</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Total Equity (Net Assets)<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">58,159</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">61,369</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">76,654</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">85,932</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">93,183</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6,760</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Net Debt<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">8,237</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6,157</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,560</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,780</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6,495</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">470</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Net Working Capital<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(788</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,865</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,638</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,976</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,499</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">907</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=31% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Issued and fully paid shares (in shares)<sup> </sup></font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">100,799,996,400</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">100,799,996,400</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">100,799,996,400</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">100,799,996,400</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">100,799,996,400</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(1)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">As of December 31, 2015, our issued
and paid-up capital consists of one Series A Dwiwarna </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">S</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">hare having a par
value of Rp50 (the &#8220;Dwiwarna Share&#8221;) and 100,799,996,399 S</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">eries B </font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">s</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">hares having a par value of Rp50 per share (</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&quot;common stock&quot;</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">)&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;"> each from an
authorized capital stock comprising one Series A Dwiwarna Share and
399,999,999,999 Series B </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">S</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">hares.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_15"></a><a name="_bclPageBorder15"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader15"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Exchange Controls</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Exchange Rate Information</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The following table
shows the exchange rate of Indonesian Rupiah to US Dollar based on the middle
exchange rate which is calculated based on the Bank Indonesia buying and
selling rates for the periods indicated. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td rowspan=2 valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Calendar Year</font></b></p>
  </td>
 <td rowspan=2 valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">at Period End<sup>(1)</sup></font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Average<sup>(2)</sup></font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Low<sup>(2)</sup></font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">High<sup>(2)</sup></font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=7 valign=bottom width=64% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp Per US$1)</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">2011&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;"> </font></b></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">9,068</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">8,779</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">9,185</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">8,460</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">2012&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;"> </font></b></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">9,670</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">9,380</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">9,707</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">8,892</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">2013&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">12,189</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">10,451</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">12,270</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">9,634</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">2014&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">12,440</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">11,878</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">12,900</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">11,271</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">2015&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,795</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,392</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">14,728</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">12,444</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">September</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">14,657</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">14,396</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">14,728</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">14,081</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">October</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,639</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,796</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">14,709</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,288</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">November</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,840</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,673</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,840</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,461</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">December</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,795</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,855</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">14,076</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,615</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">2016 (through March 2</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">8</font><font face="Times New Roman" style="font-size:9.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">323&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,5</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">37&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,946</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,020</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">January</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,846</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,889</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,946</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,835</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">February</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,395</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,516</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,757</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,333</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">March (through March 2</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">8</font><font face="Times New Roman" style="font-size:9.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">323&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">170&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,367</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">13,020</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Source : Bank Indonesia</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">(1) Determined based upon
  the middle exchange rate  announced by Bank Indonesia applicable on the last
  day  for the period. <sup> </sup></font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">(2) Determined based upon
  the daily middle exchange rate announced by Bank Indonesia during the
  applicable period.<sup> </sup></font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Under
the current exchange rate system, the exchange rate of the Indonesian rupiah is
determined by the market, reflecting the interaction of supply and demand in
the market. However, Bank Indonesia may take measures to maintain a stable exchange
rate. For the year 2015, the average rate of Rupiah to the US Dollar was Rp13</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">,</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">392,
with the lowest and highest rates being Rp14,728 and Rp12,444, respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
exchange rates used for conversion of monetary assets and liabilities
denominated in foreign currencies are the bid and offer rates published by
Reuters in 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">3</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> and 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">5</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">. The Reuters bid and offer rates, applied
respectively to monetary assets and liabilities, were Rp12,160 and
Rp12,180 to US$1.00 as of December 31, 2013</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, Rp12,380 and Rp12,390 to </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">US$1.00 as of December 31, 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">4 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">and Rp13,780
and Rp13,790 to US$1.00 as of December 31, 2015.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
Consolidated Financial Statements are stated in Rupiah. The conversion of
Rupiah amounts into US Dollar are included solely for the convenience of the
readers and have been made using the average of the market bid and offer rates
of Rp13,785 to US$1.00 published by Reuters on December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2015</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">On
March 2</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">8</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">6</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, the
Reuters bid and offer rates were Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">13,365&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> and Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">13,370&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> to US$1.00.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Foreign
Exchange Controls</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Indonesia
operates a liberal foreign exchange system that permits the free flow of
foreign exchange. Capital transactions, including remittances of capital,
profits, dividends and interest, are free of exchange controls. A number of
regulations, however, have an impact on the exchange system. For example, only
banks are authorized to deal in foreign exchange and execute exchange
transactions related to the import and export of goods. In addition, Indonesian
banks (including branches of foreign banks in Indonesia) are required to report
to Bank Indonesia any fund transfers exceeding US$10,000. As </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">an SOE</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,
and based on the decree of the Head of PKLN, we are required to obtain an
approval from PKLN prior to acquiring foreign commercial loans and must submit
periodical reports to PKLN during the term of the loans.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">B.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">CAPITALIZATION AND </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">I</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">NDEBTEDNESS&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Not applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">C.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">REASON FOR THE OFFER AND USE OF PROCEEDS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Not applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">D.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">RISK FACTORS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">A.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Risks Related to
Indonesia </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">1.</font></i></b><b><i><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Political
and Social Risks</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Current political and social events in
Indonesia may adversely affect our business</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Since 1998, Indonesia has experienced a process of
democratic change, resulting in political and social events that have
highlighted the unpredictable nature of Indonesia&#8217;s changing political
landscape. In 1999, Indonesia conducted its first free elections for representatives
in parliament. In 2004, 2009 and 2014, elections were held in Indonesia to
elect the President, Vice-President and representatives in parliament</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Indonesia also has many political
parties, without any one party holding a clear majority. Due to these factors,
Indonesia has, from time to time, experienced political instability, as well as
general social and civil unrest. For example, since 2000, thousands of
Indonesians have participated in demonstrations in Jakarta and other Indonesian
cities both for and against former President Abdurahman Wahid, former President
Megawati, and former President Susilo Bambang Yudhoyono as well as in response
to specific issues, including fuel subsidy reductions, privatization of state
assets, anti-corruption measures, decentralization and provincial autonomy and
the American-led military campaigns in Afghanistan and Iraq. Although these demonstrations
were generally peaceful, some turned violent.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">President Joko Widodo won the Indonesian presidential
elections which took place in July 2014, and was sworn in as President of the
Republic of Indonesia on October 20, 2014. Although the April 2009, July 2009,
April 2014 and July 2014 elections were conducted in a peaceful manner,
President Joko Widodo's governing coalition currently holds a minority of seats
in parliament. In addition, the relatively closely fought 2014 presidential
election, the challenge from the losing candidate in the 2014 election and the
delay of the conclusion of the election result, as well as political campaigns
in Indonesia, may be indicative of the degree of political and social division
in Indonesia</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Indonesia announced in November 2014, and implemented
with effect from January 1, 2015, a fixed diesel subsidy of Rp1</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">,</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">000 per
liter and scrapped the gasoline subsidy. Although the implementation did not
result in any significant violence or political instability, the announcement
and implementation also coincided with a period where crude oil prices had
dropped very significantly </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">from&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> 2014. Currently, the Government reviews and adjusts
the price for fuel on monthly basis and implements the adjusted fuel price in
the following month. There can be no assurance that future increases in crude
oil and fuel prices will not result in political and social instability.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Separatist movements and clashes between religious and
ethnic groups have also resulted in social and civil unrest in parts of
Indonesia, such as Aceh in the past and in Papua currently, where there have
been clashes between supporters of those separatist movements and the
Indonesian military, including continued activity in Papua, by separatist
rebels that has led to violent incidents</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> There have also been
inter-ethnic conflict</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, for example in Kalimantan, as well as
inter-religious conflict such as in Maluku and Poso.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Labor issues have also come to the fore in Indonesia.
In 2003, the Government enacted a new labor law that gave employees greater
protections. Occasional efforts to reduce these protections have prompted an
upsurge in public protests as workers responded to policies that they deemed
unfavorable.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">There can be no assurance that social and civil
disturbances will not occur in the future and on a wider scale, or that any
such disturbances will not, directly or indirectly, materially and adversely
affect our business, financial condition, results of operations and prospects.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Terrorist activities in Indonesia could
destabilize Indonesia, which would adversely affect our business, financial
condition and results of operations, and the market price of our securities </font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">There have been a number of terrorist incidents in
Indonesia, including the May 2005 bombing in Central Sulawesi, the Bali
bombings in October 2002 and 2005 and the bombings at the JW Marriot and Ritz
Carlton hotels in Jakarta in July 2009, </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;">which resulted in deaths and injuries</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">O</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;">n January 14, 2016</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;">several coordinated bombings and gun shootings occurred in Jalan Thamrin,
Jakarta, resulting in a number of deaths and injuries.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Although the Government has successfully countered
some terrorist activities in recent years and arrested several of those suspected
of being involved in these incidents, terrorist incidents may continue and, if
serious or widespread, might have a material adverse effect on investment and
confidence in, and the performance of, the Indonesian economy and may also have
a material adverse effect on our business, financial condition, results of
operations and prospects and the market price of our securities.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2.</font></i></b><b><i><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Macro
Economic Risks</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Negative changes in global, regional or
Indonesian economic activity could adversely affect our business</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Changes in the Indonesian, regional and global
economies can affect our performance. Two significant events in the past that
impacted Indonesia&#8217;s economy were the Asian economic crisis of 1997 and the
global economic crisis which started in 2008. The 1997 crisis was characterized
in Indonesia by, among others, currency depreciation, a significant decline in
real gross domestic product, high interest rates, social unrest and
extraordinary political developments</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">. W</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">hile the global economic crisis that arose
from the subprime mortgage crisis in the US did not affect Indonesia's economy
as severely as in 1997, it still put Indonesia&#8217;s economy under pressure. The
global financial markets have also experienced volatility as a result of
expectations relating to monetary and interest rate policies of the United
States, concerns over the debt crisis in the Eurozone, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">and concerns over China's economic health</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. Uncertainty over the outcome of the Eurozone
governments&#8217; financial support programs and worries about sovereign finances
generally are ongoing. If the crisis becomes protracted, we can provide no
assurance that it will not have a material and adverse effect on Indonesia&#8217;s
economic growth and consequently on our business.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Adverse economic conditions could result in less
business activity, less disposable income available for consumers to spend and
reduced consumer purchasing power, which may reduce demand for communication
services, including our services, which in turn would have an adverse effect on
our business, financial condition, results of operations and prospects. There
is no assurance that there will not be a recurrence of economic instability in
future, or that, should it occur, it will not have an impact on the performance
of our business. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Fluctuations in the value of the Indonesian
Rupiah may materially and adversely affect us </font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Our functional currency is the Rupiah. One of the most
important effects of the Asian economic crisis that affected Indonesia was the
depreciation and volatility in the value of the Indonesian Rupiah as measured
against other currencies, such as the US Dollar. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The Rupiah </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">continues to
experience significant volatility</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">From 20</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">11&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> to 201</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">5</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, the Indonesian Rupiah per US Dollar exchange
rate ranged from a </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">high&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> of Rp</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">8,460&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> per US Dollar to a </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">low&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> of
Rp</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">14,728&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> per US Dollar. As a result, we recorded </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">foreign exchange </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">losses of Rp249 billion </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">in 2013, Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">14 billion </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">in 2014 and Rp46 billion in 2015. As of December 31,
2015, the Indonesian Rupiah per US Dollar exchange rate stood at Rp13,795 per
US Dollar compared to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp12,440 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">per US Dollar as of December 31, 2014. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">To the extent that the Indonesian Rupiah depreciates
further from the exchange rate as of December 2015, our US Dollar-denominated
obligations under our accounts payable and procurements payable, as well as
payments for foreign currency-denominated loans payable and bonds payable,
would increase in Indonesian Rupiah terms. A depreciation of the Rupiah would
also increase the Rupiah cost of our capital expenditures as most of our
capital expenditures are priced in or with reference to foreign currencies,
mainly US Dollars and Euros, while a substantial </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">majority&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> of our
revenues are in Rupiah. Such depreciation of the Indonesian Rupiah would result
in losses on foreign exchange translation, significantly affect our total
expenses and net income and reduce the US Dollar amounts of dividends received
by holders of our ADSs. We can give no assurances that we will be able to
control or manage our exchange rate risk successfully in the future or that we
will not be adversely affected by our exposure to exchange rate risk.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;text-transform:uppercase;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">In addition, while the Indonesian Rupiah has generally
been freely convertible and transferable, from time </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">to&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> time,
Bank Indonesia has intervened in the currency exchange markets in furtherance
of its policies, either by selling Indonesian Rupiah or by using its foreign
currency reserves to purchase Indonesian Rupiah. We can give no assurances that
the current floating exchange rate policy of Bank Indonesia will not be
modified or that the Government will take additional action to stabilize,
maintain or increase the Indonesian Rupiah&#8217;s value, or that any of these
actions, if taken, will be successful. Modification of the current floating exchange
rate policy could result in significantly higher domestic interest rates,
liquidity shortages, capital or exchange controls or the withholding of
additional financial assistance by multinational lenders. This could result in
a reduction of economic activity, an economic recession, loan defaults or
declining subscriber usage of our services, and as a result, we may also face
difficulties in funding our capital expenditures and in implementing our
business strategy. Any of the foregoing consequences could have a material
adverse effect on our business, financial condition, results of operations and
prospects.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Downgrades of credit ratings of the Government
or Indonesian companies could adversely affect our business</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">As of the date of this Annual Report, Indonesia&#8217;s
sovereign foreign currency long-term debt was rated &#8220;Baa3&#8221; by Moody&#8217;s, &#8220;BB+&#8221; by
Standard &amp; Poor&#8217;s and &#8220;BB</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">B-</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#8221; by Fitch Ratings. Indonesia's short-term foreign
currency debt is rated &#8220;B&#8221; by Standard &amp; Poor&#8217;s and &#8220;F3&#8221; by Fitch Ratings.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We can give no assurances that Moody&#8217;s, Standard &amp;
Poor&#8217;s or Fitch Ratings, will not change or downgrade the credit ratings of
Indonesia. Any such downgrade could have an adverse impact on liquidity in the
Indonesian financial markets, the ability of the Government and Indonesian
companies, including us, to raise additional financing and the interest rates
and other commercial terms at which such additional financing is available.
Interest rates on our floating rate Rupiah-denominated debt would also likely
increase. Such events could have material adverse effects on our business,
financial condition, results of operations, prospects and/or the market price
of our securities.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">3.</font></i></b><b><i><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Disaster
Risks</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Indonesia is vulnerable to natural disasters
and events beyond our control, which could adversely affect our business and
operating results</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Many parts of Indonesia, including areas where we
operate, are prone to natural disasters such as floods, lightning strikes,
typhoons, earthquakes, tsunamis, volcanic eruptions, fires, droughts, power
outages and other events beyond our control. The Indonesian archipelago is one
of the most volcanically active regions in the world as it is located in the
convergence zone of three major lithospheric plates. It is subject to
significant seismic activity that can lead to destructive earthquakes, tsunamis
or tidal waves. Flash floods and more widespread flooding also occur regularly
during the rainy season from November to April. Cities, especially Jakarta, are
frequently subject to severe localized flooding which can result in major
disruption and occasionally, fatalities.&#160; Landslides regularly occur in rural
areas during the wet season. From time to time, natural disasters have killed,
affected or displaced large numbers of people and damaged our equipment. These
events in the past, and may in the future, disrupt our business activities,
cause damage to equipment and adversely affect our financial performance and
profit.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">For example, on September 2, 2009, an earthquake in
West Java caused damage to our assets. On September 30, 2009, an earthquake in
West Sumatra disrupted the provision of telecommunications services in several
locations. Although our Crisis Management Team in cooperation with our
employees and partners was able to restore services quickly, the earthquake
caused severe damage to our assets.</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Although we have implemented a Business Continuity
Plan (&#8220;BCP&#8221;) and a Disaster Recovery Plan (&#8220;DRP&#8221;), and test these regularly and
we have insured</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> certain of</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> our assets to protect from any losses
attributable to natural disasters or other phenomena beyond our control, there
is no assurance that the insurance coverage will be sufficient to cover the
potential losses, that the premium payable for these insurance policies upon
renewal will not increase substantially in the future, or that natural
disasters would not significantly disrupt our operations. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We cannot assure you that future natural disaster will
not have a significant impact on us, or Indonesia or its economy. A significant earthquake, other
geological disturbance or weather-related natural disaster in any of
Indonesia&#8217;s more populated cities and financial centers could severely disrupt
the Indonesian economy and undermine investor confidence, thereby materially
and adversely affecting our business, financial condition, results of
operations and prospects.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our operations may be adversely affected by an
outbreak of an infectious disease, such as avian influenza, Influenza A (H1N1)
virus or other epidemics</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">An outbreak of an infectious disease such as avian
influenza, Influenza A (H1N1) or a similar epidemic, or the measures taken by
the Governments of affected countries, including Indonesia, against such an
outbreak, could severely disrupt the Indonesian and other economies and
undermine investor confidence, thereby materially and adversely affecting our
financial condition or results of operations and the market value of its
securities. Moreover, our operations could be materially disrupted if our
employees remained at home and away from our principal places of business for
extended period of time, which would have a material and adverse effect on our
financial condition or results of operations and the market value of its
securities.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">4.</font></i></b><b><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Other Risks</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><i><font face="Times New Roman" lang=IN style="font-size:5.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Indonesian </font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">c</font></i><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">orporate
</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">d</font></i><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">isclosure </font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">s</font></i><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">tandards differ in significant respects from
those applicable in other countries, including the United States </font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><i><font face="Times New Roman" lang=IN style="font-size:5.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">As a company whose shares are listed on the Indonesia
Stock Exchange (&#8220;IDX&#8221;) and the New York Stock Exchange (&#8220;NYSE&#8221;), we are subject
to regulatory and exchange corporate governance and reporting requirements in
multiple jurisdictions. There may be less publicly-available information about
Indonesian public companies, including us, than is regularly disclosed by
public companies in countries with more mature securities markets. As a result,
investors may not have access to the same level and type of disclosure as that
available in other countries, and comparisons with other companies in other
countries may not be possible in all respects.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><i><font face="Times New Roman" lang=IN style="font-size:6.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Our financial results are reported to the OJK
(as the successor to Bapepam-LK) in conformity with IFAS, which differs in
certain significant respects from IFRS, and we distribute dividends based on
profit for the year attributable to owners of the parent company and net income
per share determined in reliance on IFAS</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><i><font face="Times New Roman" lang=IN style="font-size:5.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In accordance with the regulations of OJK and the IDX,
we are required to report our financial results to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">OJK in
conformity with IFAS. We have provided to</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> the</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> OJK our financial result for
the financial year ended December 31, 2015, on </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">March 3</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">6</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, which
we furnished to the SEC on a Form 6-K dated </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">March 7</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, 2016,
which contains our audited consolidated financial statements as of December 31,
2015 and for the year then ended and prepared in conformity with IFAS. IFAS
differs in certain significant respects from IFRS, and, as a result, there are
differences between our financial results as reported under IFAS and IFRS,
including profit for the year attributable to owners of the parent company and
net income per share. We distribute dividends based on profit for the year
attributable to owners of the parent company and net income per share
determined in reliance on IFAS.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Based on </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">IFAS
financial statements, our profit for the year attributable to owners of the
parent company would be Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">14,471&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> billion and Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">15,489 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion for </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2014 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(A</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s restated</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">) and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2015</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,
respectively and our net income per share would be Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">148.13 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">and Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">157.77 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">for
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2014 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(A</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s restated</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">) and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2015</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,
respectively. Dividends declared per share were Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">89.46 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">for fiscal
year 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">4</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">. The dividends </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">declare </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">per share for the year </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2015&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
will be decided at the 2016 AGMS, scheduled for </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">April 22</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">6</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">We </font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">were
established</font></i><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> in Indonesia
and it may not be possible for investors to effect service of process or
enforce judgments, on us within the United States or to enforce judgments of a
foreign court against us in Indonesia</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">We are</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> state
owned</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> a limited liability company
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">established&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> in Indonesia, operating within the framework of
Indonesian laws relating to Indonesian companies with limited liability, and
all of our significant assets are located in Indonesia. In addition, our
Commissioners and our Directors reside in Indonesia and a substantial portion
of the assets of such persons are located outside the United States. As a
result, it may be difficult for investors to effect service of process, or
enforce judgments on us or such persons within the US, or to enforce against us
or such persons in the US, judgments obtained in US courts.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">We have been advised by Hadiputranto, Hadinoto &amp;
Partners</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> our Indonesian legal advisor</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> that
judgments of US courts, including judgments predicated upon the civil liability
provisions of the US federal securities laws or the securities laws of any
state within the US, are not enforceable in Indonesian courts, although such
judgments could be admissible as non-conclusive evidence in a proceeding on the
underlying claim in an Indonesian court. They have also advised that there is
doubt as to whether Indonesian courts will enter judgments in original actions
brought in Indonesian courts predicated solely upon the civil liability
provisions of the US federal securities laws or the securities laws of any state
within the US. As a result, the claimant would be required to pursue claims
against us or such persons in Indonesian courts.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Our controlling shareholder&#8217;s interest may
differ from those of our other shareholders</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">The Government has a controlling stake of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">52.55</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">%
of our issued and outstanding shares of common stock and the ability to
determine the outcome of all actions requiring the approval of the
shareholders. The Government also holds our one</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> Series A </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Dwiwarna </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">S</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">hare,
which has special voting rights and veto rights over certain matters, including
the election and removal of our Directors and Commissioners. It may also use
its powers as majority shareholder or under the Dwiwarna Share to cause us to
issue new shares, amend our Articles of Association or bring about actions to
merge or dissolve us, increase or decrease our authorized capital or reduce our
issued capital, or veto any of these actions. One or more of these may result
in the delisting of our securities from certain exchanges. Further, through the
MoCI, the Government exercises regulatory power over the Indonesian
telecommunications industry. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">As of December 31, 2015, the Government had a 14.3%
equity stake in PT Indosat Tbk (&quot;Indosat&quot;), which competes with us in
fixed IDD telecommunications services and cellular services. The Government's
stake</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> in Indosat</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> includes </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">a&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> Series A Dwiwarna share which has special
voting rights and veto rights over certain strategic matters under Indosat's </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">a</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">rticles
of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">a</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">ssociation, including decisions on dissolution, liquidation
and bankruptcy, and also permits the Government to nominate one </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">irector
to its </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">b</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">oard of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">irectors and one </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">c</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">ommissioner
to its </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">b</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">oard of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">c</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">ommissioners. There may thus be instances
where the Government&#8217;s interests will conflict with ours. There is no assurance
that the Government will not direct opportunities to Indosat or favor Indosat
when exercising regulatory power over the Indonesian telecommunications
industry. If the Government were to give priority to Indosat&#8217;s business over
ours or to expand its stake in Indosat, our business, financial condition, and
results of operations and prospects could be materially and adversely affected.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">B.</font></b><b><font color=windowtext face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Risks
Related to Our Business
</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1.</font></i></b><b><i><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Operational
Risks</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">A material failure in the
continuing operations of our network, certain key systems, gateways to our
network or the networks of other network operators could adversely affect our
business, financial condition, results of operations and prospects</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">We depend to a significant degree on the uninterrupted
operation of our network to provide our services. For example, we depend on
access to our fixed wireline network (&#8220;PSTN&#8221;) for the operation of our fixed
line network and the termination and origination of cellular telephone calls to
and from fixed line telephones, and a significant portion of our cellular and
international long-distance call traffic is routed through the PSTN. We also
depend on access to an internet and broadband network and a cellular network.
Our integrated network includes a copper access network, fiber optic access
network, BTSs, switching equipment, optical and radio transmission equipment,
an IP core network, satellite and application servers. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">In addition, we also rely on interconnection to the
networks of other telecommunications operators to carry calls and data from our
subscribers to the subscribers of operators both within Indonesia and overseas.
We also depend on certain technologically sophisticated management information
systems and other systems, such as our customer billing system, to enable us to
conduct our operations. Our network, including our information systems, IT and
infrastructure and the networks of other operators with whom our subscribers
are interconnected, are vulnerable to damage or interruptions in operation from
a variety of sources including earthquake, fire, flood, power loss, equipment
failure, network software flaws, transmission cable disruption or similar
events. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Although we have a comprehensive business continuity
plan and disaster recovery plan which we test and strive to improve, we cannot
guarantee that the implementation of such plans will be completely or partially
successful should any portion of network be severely damaged or interrupted.
Any failure that results in an interruption of our operations or of the
provision of any service, whether from operational disruption, natural disaster
or otherwise, could adversely affect our business, financial condition, results
of operations and prospects.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Our networks, face both
potential physical and cyber security threats, such as theft, vandalism and
acts intended to disrupt operations, which could adversely affect our operating
results</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Our networks and equipment,
particularly our wireline access network, face both potential physical and
cyber security threats. Physical threats include theft and vandalism of our
equipment and organized attacks against key infrastructure intended to disrupt
operations. In addition, telecommunications companies worldwide face increasing
cyber security threats as businesses become increasingly dependent on
telecommunications and computer networks and adopt cloud computing
technologies. Cyber security threats include gaining unauthorized access to our
systems or inserting computer viruses or malicious software in our systems to
misappropriate consumer data and other sensitive information, corrupt our data
or disrupt our operations. Unauthorized access may also be gained through
traditional means such as the theft of laptop computers, portable data devices
and mobile phones and intelligence gathering on employees with access. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Although we have not experienced
any material successful cyber attacks to date that have affected our
operations,</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> our network and our website
are frequently targeted by cyber attacks.
A</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> successful cyber attack may lead us to incur substantial costs to
repair damage or restore data, implement substantial organizational changes and
training to prevent future similar attacks and lost revenues and litigation
costs due to misused sensitive information, and cause substantial reputational
damage. We take preventive and remedial measures, including enhanced
cooperation with the police, particularly in areas prone to criminal activity
and regular upgrades of our data security measures. However, there is no
assurance that our physical and cyber security measures will be successful.
Damage to our network, equipment or data and the need to repair such damage
resulting from a physical or cyber attack may materially and adversely affect
our business, financial condition and operating results. Our networks face
potential security threats, such as theft or vandalism, which could adversely
affect our operating results.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We face a number of risks relating to
our internet-related services</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In addition to cyber security threats,
because we provide connections to the internet and host websites for customers
and develop internet content and applications, we may be perceived as being
associated with the content carried over our network or displayed on websites
that we host. We cannot and do not screen all of this content and may face
litigation claims due to a perceived association with this content. These types
of claims can be costly to defend, divert management resources and attention,
and may damage our reputation.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>




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</DIV>
<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">A revenue leakage might occur
due to internal weaknesses or external factors and if this happened</font></i><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,&nbsp;</font></i><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> it could have an adverse effect on
our operating results</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">A revenue leakage is a
generic risk for all telecommunications operators. We may face revenue leakage
problems or problems with collecting all the revenues to which we may be
entitled, due to the possibility of weaknesses at the transactional level,
delay in transaction processing, dishonest customers or other factors. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We have taken some preventive
measures against the possibility of revenue leakage by increasing control
functions in all of our existing business process, implementing revenue
assurance methods, employing adequate policies and procedures as well as
implementing information systems applications to minimize revenue leakages.
Nonetheless, there is no assurance that in the future there will be no
significant revenue leakages or that any such leakages will not have a material
adverse affect on our operating results.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">New technologies may
adversely affect our ability to remain competitive</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The telecommunications
industry is characterized by rapid and significant changes in technology. We
may face increasing competition due to technologies currently under development
or which may be developed in the future. Future development or application of
new or alternative technologies, services or standards could require
significant changes to our business model, the development of new products, the
provision of additional services and substantial new investments by us. New
products and services may be expensive to develop and may result in the
introduction of additional competitors into the marketplace. We cannot
accurately predict how emerging and future technological changes will affect
our operations or the competitiveness of our services. Furthermore, we cannot
guarantee that we will be able to effectively integrate new technologies into
our existing business model.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">For example, due to competition
and the increasing popularity of mobile cellular platforms, our fixed wireless
revenues and ARPU had been declining in recent years. </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">On June 27, 2014</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">we entered into a Conditional Business Transfer Agreement
with Telkomsel to transfer </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">parts of our</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Flexi business, with effect from
October 3, 2014, and migrate</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
Flexi subscribers to Telkomsel. We </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">terminated our Flexi service on May 31, 2015.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">As part of our </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">continuing development of our </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">TIMES business, we </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">continue to </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">seek to develop businesses through which
we also provide content to our telecommunications subscribers. We do not yet
have substantial experience as a content provider therefore we cannot assure
you that we will be able to effectively manage the growth of this business. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We cannot assure you that our
technologies will not become obsolete, or be subjected to competition from new
technologies in the future, or that we will be able to acquire new technologies
necessary to compete in changed circumstances on commercially acceptable terms.
Our failure to react to rapid technological changes could adversely affect our
business, financial condition, results of operations and prospects.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our satellites have limited
operational life</font></i><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
and</font></i><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> they
may be damaged or destroyed during in-orbit operation or suffer launch delays
or failures. The loss or reduced performance of our satellites, whether caused
by equipment failure or its license being revoked, may adversely affect our
financial condition, results of operations and ability to provide certain
services</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Our Telkom-1 and Telkom-2 satellites have limited
operational li</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ves</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">with their</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> estimated </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">operational
life ending</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> approximately in 2015
and 2020, respectively. A number of factors affect the operational lives of
satellites, including the quality of their construction, the durability of
their systems, subsystems and component parts, on-board fuel reserves, accuracy
of their launch into orbit, exposure to micrometeorite storms, or other natural
events in space, collision with orbital debris, or the manner in which the
satellite is monitored and operated. We currently use satellite transponder
capacity on our satellites in connection with many aspects of our business,
including direct leasing of such capacity and routing for our international
long-distance and cellular services. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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</DIV>
<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Moreover, International
Telecommunication Union (&#8220;ITU&#8221;) regulations specify that a designated satellite
slot has been allocated for Indonesia and the Government has the right to
determine which party is licensed to use such slot. While we currently hold a
license to use the designated satellite slot, in the event our Telkom-1 and
Telkom-2 satellites experience technical problems or failure, the Government
may determine that we have failed to optimize the existing slot under our
license, which may result in the Government withdrawing our license. We cannot
assure you that we will be able to maintain use of the designated satellite
slot in a manner deemed satisfactory by the Government.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">In anticipation of the growth
in demand for satellite services and to support our business strategy with
regard to providing TIMES services, we signed a contract in 2009 for the
procurement of the Telkom-3 Satellite System. However, due to a launch failure
in August 2012, the Telkom-3 satellite ended up in an unusable orbit. Although
we had fully insured the cost of the satellite, the loss of the Telkom-3
satellite will require us to lease transponder capacity from a third party
provider to fulfill our commitments to our satellite operations customers, with
likely lower margins than we would have received from the use of Telkom-3 had
it been successfully launched. We have entered into a contract for the
construction of a replacement satellite, the Telkom-3S, </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">which is currently </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">planned for launch in </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">late </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2016, and another contract for the
procurement of a Telkom-4 satellite, which is currently planned for launch
around the end of 2017, as a replacement for Telkom-1. </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">A</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">lthough the Telkom-1 satellite may
still be operational for several years after the end of its estimated
operational lifespan in 2015, if there is any delay in the development and
launch of </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the Telkom-3S and/or Telkom-4 satellites</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, or if the operational life of the
Telkom-1 satellite ends before the </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Telkom-3S
and/or Telkom-4
satellites are </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">successfully launched, or damage or
failure renders our existing satellites unfit for use, we would need to lease
additional transponder capacity from a third party, which would likely increase
our costs of operations. Failure to lease adequate satellite capacity from a
third party provider may also
result in service interruptions and/or a cessation of our satellite operations.
The termination of our satellite business could increase expenses associated
with our provision of other telecommunications services, particularly in the
eastern parts of Indonesia which currently rely largely on satellite coverage
for telecommunications services and could adversely affect our business,
financial condition and results of operations. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.</font></i></b><b><i><font color=windowtext face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Financial
Risks</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">We are exposed to interest rate risk</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-transform:none;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">Our debt includes bank borrowings to
finance our operations. Where appropriate, we seek to minimize our interest
rate risk exposure by entering into interest rate swap contracts to swap
floating interest rates for fixed interest rates over the duration of certain
borrowings. However, our hedging policy may not adequately cover our exposure
to interest rate fluctuations and this may result in a large interest expense
and an adverse effect on our business, financial condition and results of
operations. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">Changes in the economic situation in
the United States, including improvement or expectations of improvement in the
U.S. economy, may also have an impact on Southeast Asia and Indonesia.
Expectations of the United States Federal Reserve tapering its bond buying
program on an improving economy resulted in, among other things, the weakening
of equity and bond markets around the world and a number of Asian currencies
including the Rupiah since May 2013. In part, in an effort to support the
Rupiah, in June 2013, Bank Indonesia began raising its benchmark reference rate
from a record low of 5.75% which was set in February 2012. The benchmark
reference rate rose </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">six&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">
times between June</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;"> 2013</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">
and November 201</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">4&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;"> to 7.</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">7</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">5%&nbsp;</font><b><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">
</font></b><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">before decreasing to 7.50% in February 2015</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">,
7.25% in January 2016, 7.00% in February 2016
and 2.75% in March 2016</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;"> The increase</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">s&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;"> of Bank Indonesia reference rate</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">
in 2013 and 2014</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;"> w</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">ere&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;"> followed by increases in the JIBOR and Bank Indonesia
Certificate (&#8220;SBI&#8221;) interest rates. There can be no assurance that the Bank
Indonesia reference rate, JIBOR or SBI rate will not rise</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">
again</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;"> in the future.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;text-transform:uppercase;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;text-transform:uppercase;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">We may not be able to successfully manage
our foreign currency exchange risk</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:7.0pt;font-weight:normal;line-height:normal;text-transform:none;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">Changes in exchange rates have affected
and may continue to affect our financial condition and results of operations.
Most of our debt obligations are denominated in Indonesian Rupiah and a
majority of our capital expenditures are denominated in US Dollars. Most of our
revenues are denominated in Indonesian Rupiah and a portion is denominated in
US Dollars (for example from international services). We may also incur
additional long-term indebtedness in currencies other than the Indonesian Rupiah,
including the US Dollars, to finance further capital expenditures. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;font-weight:normal;line-height:normal;text-transform:none;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">The exchange rate of Indonesian Rupiah
to the US Dollar&#160; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">has been highly volatile from time to
time in the past. Although we have a financial risk management program and a
written policy for foreign currency risk management which mainly uses time
deposits placements and hedging to cover foreign currency risk exposure for
periods ranging from three to twelve months,</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">
we can give no assurance that we will be able to manage our exchange rate risk
successfully or that our business, financial condition or results of operations
will not be adversely affected by our exposure to exchange rate risk. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;font-weight:normal;line-height:normal;text-transform:none;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">We may be unable to fund the capital
expenditures needed for us to remain competitive in the telecommunications
industry in Indonesia</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:7.0pt;font-weight:normal;line-height:normal;text-transform:none;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">The delivery of telecommunications
services is capital intensive. In order to be competitive, we must continually
expand, modernize and update our telecommunications infrastructure technology,
which involves substantial capital investment. For the years ended December 31,
2013, 2014 and 2015, our consolidated capital expenditures total</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">ed&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;"> Rp24,898 billion</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">,&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">
Rp</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">24</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">,661 billion, and Rp26,401 billion
(US$1,915 million), respectively. Our ability to fund capital expenditures in the
future will depend on our future operating performance, which is subject to
prevailing economic conditions, levels of interest rates and financial,
business and other factors, many of which are beyond our control, and upon our
ability to obtain additional external financing. We cannot assure you that
additional financing will be available to us on commercially acceptable terms,
or at all. In addition, we can only incur additional financing in compliance
with the terms of our debt agreements. Accordingly, we cannot assure you that
we will have sufficient capital resources to improve or expand our
telecommunications infrastructure technology or update our other technolog</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;">ies&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;text-transform:none;"> to the extent necessary to remain competitive in the
Indonesian telecommunications market. Our failure to do so could have a
material adverse effect on our business, financial condition, results of
operations and prospects.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:7.0pt;font-weight:normal;line-height:normal;text-transform:none;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.</font></i></b><b><i><font color=windowtext face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Legal
and Compliance Risks</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><i><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">If we are found liable for
price fixing by the KPPU and for class action allegations, we may be subjected
to substantial liability which could lead to a decrease in our revenue and
affect our business, reputation and profitability</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The Company, Telkomsel and seven other
local operators have been investigated by </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">KPPU for
allegations of SMS cartel practices. As a result of the investigations on June </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">17, 2008,</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
KPPU found that the Company, Telkomsel and certain operators had violated Article
5 of Law No.5 year 1999 and charged the Company and Telkomsel in the amounts of
Rp18 billion and Rp25 billion, respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Management believes that there are no such
cartel practices that led to a breach of prevailing regulations. Accordingly,
the Company and Telkomsel filed an appeal with the Bandung District Court and
South Jakarta District Court on July 14, 2008 and July 11, 2008, respectively. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Due to the filing of the case by operators in various
courts, the KPPU subsequently requested the Supreme Court to consolidate the
cases into the Central Jakarta District Court. Based on the Supreme Court's decision
letter dated April 12, 2011, the Supreme Court appointed the Central Jakarta
District Court to investigate and resolve the case. On May 27, 2015, the Central
Jakarta District Court decided on the case in favor of the Company, Telkomsel
and seven other local operators upon the case. On July 23, 2015, KPPU filed an
appeal to the Supreme Court regarding the case of SMS cartel practices. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">On February 29, 2016, the SC decided </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">on the case in favor of</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> KPPU. As of the date of approval and authorization
for the issuance of the consolidated financial statements, the Company is
considering to request for a judicial review of the case by the SC.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">There can be no assurance that other subscribers,
people, or partners will not file similar cases in the future, or that we would
not be subject to adverse verdicts which could have an adverse effect on our
business, reputation and profitability.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Forward-looking statements
may not be accurate </font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">This Annual Report
incorporates forward-looking statements that include announcements regarding
our current goals and projections of our operational performance and future
business prospects. The words &#8220;believe&#8221;, &#8220;expect&#8221;, &#8220;anticipate&#8221;, &#8220;estimate&#8221;,
&#8220;project&#8221; and similar words identify forward-looking statements. In addition,
all statements, other than statements that contain historical facts, are
forward-looking statements. While we believe that the expectations contained in
these statements are reasonable, we cannot give an assurance that they will be
realized. These forward-looking statements are subjected to a number of risks
and uncertainties, including changes in the economic, social and political
situation in Indonesia and other risks described in &quot;Risk Factors&quot;.
All forward-looking statements, written or verbal, made by us or by persons on
behalf of us are deemed to be subject to those risks.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.</font></i></b><b><i><font color=windowtext face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Regulation
Risks</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><i><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">We operate in a legal and
regulatory environment that is undergoing significant change. These changes may
result in increased competition, which may result in reduced margins and
operating revenue, among other things. These changes may also directly reduce
our margins or reduce the costs of our competitors. These adverse changes
resulting from regulation may have a material adverse effect on us.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Reformation in Indonesian
telecommunications regulation initiated by the Government in 1999 have, to a
certain extent, resulted in the industry&#8217;s liberalization, including removal of
barriers to entry and the promotion of competition. However, in recent years,
the volume and complexity of regulatory changes has created an environment of
considerable regulatory uncertainty. In addition, as the legal and regulatory
environment of the Indonesian telecommunications sector continue to change,
competitors, potentially with greater resources than us, may enter the
Indonesian telecommunications sector and compete with us in providing
telecommunications services. Furthermore, it is impossible to anticipate the
regulatory policies that will be applied to new technologies.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">We derive substantial revenue from
interconnection services because we have the largest network in Indonesia and
our competitors must pay tariffs to connect to our network. As regulated by the
MoCI, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">although SMS </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">interconnection rates</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> as a result of ITRB No.60/BRTI/III/2014 and No.125/BRTI/IV/2014
increased </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">from Rp23 to Rp24</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, effective April 2014, through December 31, 2015, SMS
interconnection rates have been decreasing prior to that in recent years and
may decrease again in the future</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The termination of Telkomsel&#8217;s premium SMS services
from October 2011 as a result of MoCI Regulation
No.1/PER/M.KOMINFO/01/2009 resulted in a substantial reduction in our revenues
from these services. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">These&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> services were</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> resumed by Telkomsel from August 6, 2013 as allowed under </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">MoCI Regulation No.21 year </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">2013 dated
July 26, 2013, regarding the Operation of Content Provider Services on Mobile
Cellular Network and Local Fixed Wireless Network with Limited Mobility,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> as last amended by MoCI Regulation No.6 of
2015, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">which replaced MoCI Regulation
No.1/PER/M.KOMINFO/01/2009</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.
However, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">pursuant to the new decree,
premium SMS service providers are required to meet stricter requirements that
are more
difficult to comply with. Accordingly we do not expect revenues from premium
SMS services to return to levels seen prior to October 2011.</font><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In the future, the Government may announce
or implement other regulatory changes which may adversely affect our business
or our existing licenses. We cannot assure you that we will be able to compete
successfully with other domestic and foreign telecommunications operators, that
regulatory changes will not disproportionately reduce our competitors&#8217; costs or
disproportionately reduce our revenues, or that regulatory changes, amendments
or interpretations of current or future laws and regulations promulgated by the
Government will not have a material adverse effect on our business and
operating results.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The entry of additional
Indonesian telecommunications operators as providers of international direct
dialing services could adversely affect our international telecommunications
services operating margins, market share and results of operations</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We obtained a license and
entered the international long-distance service market in 2004 and acquired a
significant market share for IDD services by the end of 2006. Indosat, one of
our primary competitors, entered this market prior to us and continues to
maintain a substantial market share for IDD services. </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">There is a possibility that other
operators will be granted IDD licenses in the future. The operations of
incumbents and the entrance of new operators into the international
long-distance market, including the VoIP services provided by such operators as
well as smartphone-based VoIP applications, continue to pose a significant
competitive threat to us. We cannot assure you that such adverse effects will
not continue or that such increased competition will not continue to erode our
market share or adversely affect our fixed telecommunications services
operating margins and results of operations.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">We face risks related to the opening of
new long distance access codes</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">In an attempt to liberalize DLD
services, the Government issued regulations assigning each provider of DLD
services a three-digit access code to be dialed by customers making DLD calls.
In 2005, the MoCI announced that </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">a </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">three-digit access code for DLD calls will be
implemented gradually within five years and that it would assign us the &#8220;017&#8221;
DLD access code for five major cities, including Jakarta, and allow us to
progressively extend it to all other area codes. Indosat was assigned &#8220;011&#8221; as
its DLD access code. We were required to open DLD access codes in all remaining
areas on September 27, 2011, by which date our network was ready to be opened
up to the three-digit DLD access code in all coded areas throughout Indonesia. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">However, we believe that the cost
for operators who have not upgraded their network infrastructure to open their
networks to the three-digit access code to do so is significant. To date, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">other than for Balikpapan, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">neither of the OLOs have made a request to us to
connect their networks to enable their DLD access codes to be accessible</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">. A</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s
such, we believe that other than Balikpapan, none of the DLD access codes for
any of the licensed operators are usable by customers of other operators.
However, if they do so in the future, the implementation of any new DLD access
codes can potentially increase competition by offering our subscribers more
options for DLD services. In addition, the opening of new DLD access codes is
expected to result in increased competition and less cooperation among industry
incumbents, which may result in reduced margins and revenues, among other things,
all of which may have a material adverse effect on us.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Regulations for the
configuration of BTS towers may delay the set up of new BTS towers or changes
in the placement of existing towers, and may erode our leadership position by
requiring us to share our towers with our competitors</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">In 2008 and 2009, the Government
issued regulations relating to the construction, utilization and sharing of BTS
towers. Pursuant to the regulations, the construction of BTS towers requires
permits from the local government. The local government has a right to
determine the placement of the towers, the location in which the towers can be
constructed, and also to determine a license fees to build tower
infrastructure. These regulations also oblige us to allow other telecommunication
operators to lease space and utilize our telecommunications towers without any
discrimination. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">These regulations may adversely
affect </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">us </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">in the allocation, development or expansion plan of
our new BTS towers as setting up of our new towers will become more
complicated. They may also adversely affect our existing BTS towers if local
governments require any changes in the placement of the existing towers. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">The requirement that we share space on our
telecommunications towers may also disadvantage us by requiring that we allow
our competitors to expand quickly, particularly in urban areas where new space
for additional towers may be difficult to obtain. Effective 2011, local
Governments are permitted to assess fees of up to 2.0% of the tax assessed
value of towers. Although </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">only several
local government and assessed such </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">fees
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">and have not been</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> material, there can be no assurance that they will
not be </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">material&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> in the future.</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5.</font></i></b><b><i><font color=windowtext face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Risks
Related to Our Fixed</font></i></b><b><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
and Cellular</font></i></b><b><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
Telecommunication Business</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">We may further lose wireline telephone
subscribers and revenues derived from our wireline voice services may continue
to decline, which may materially adversely affect our results of operations,
financial condition and prospects</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Revenues derived from our wireline
voice services have declined during the
past several years mainly due to the increasing popularity of mobile voice
services and other alternative means of communication.</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Tariffs for mobile services have
declined in recent years which has further accelerated substitution of mobile
for wireline voice services. While the number of our fixed wireline subscribers
increased by 3.7% </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">in&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 2014 and 6.0% in 2015,
revenues from our wireline voice services decreased by 5.1% in 2014</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and by</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 3.2% in 2015. The percentage of
revenues derived from our wireline voice services out of our total revenues
continued to decrease from 8.9% in 2014 to 7.5% in 2015.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Since the beginning of 2015, we
have taken various steps to stabilize our revenues from wireline voice services
by </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">seeking to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">migrat</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">e
subscribers</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> to IndiHome,</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> where bundling </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">consist</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">s&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">primarily
broadband </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Internet, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">fixed wirel</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">ine&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> residential </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">phone (Home Phone), and interactive TV (Cable UseeTV) services.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">However, we cannot assure you that
we will be successful in mitigating the adverse impact of the substitution of
mobile voice services and other alternative means of communication for wireline
voice services or in reducing the rate of decline in our revenues generated
from wireline voice services. Migration from wireline voice services to mobile
services and other alternative means of communication may further intensify in
the future, which may affect the financial performance of our wireline voice
services and thus materially and adversely affect our results of operations,
financial condition and prospects as a whole.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our data and internet
services are facing increasing competition, and we may experience declining
margins </font></i><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and/or
market share </font></i><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">from
such services as such competition intensifies</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our data and internet
services are facing increase competition from other data and internet operators
</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">including </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">as mobile operators. The
number of mobile broadband subscribers have increased with the </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">increasing&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> popularity</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> of smart phones in Indonesia, which</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> adversely affects our market
share and revenues from our</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
fixed line</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> data
and internet services.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In addition, </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">with the </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">increasing&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> popularity</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> of smart phones in Indonesia, we
expect that 4G/</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
long term evolution (&#8220;LTE&#8221;)</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
services will increasingly become an intense
area of competition for data and internet services, as well as cellular
services. </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">In
2014, the Government issued license</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s for</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
LTE / 4G 900 MHz frequency band for cellular operators and in 2015 issued a
policy </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">to r</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">efarm </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1800 MHz </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">frequency </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">for LTE</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> use</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.
Since our launch
of 4G LTE services in December 2014, as of December 31, 2015, our LTE services
covered 14 cities. However, </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">as
of such date, </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a
couple of our cellular competitors have 4G LTE coverage in more cities than
us.&#160; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Further, </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">in 2013, the regulator
permitted the Wi-Max operators to deploy the LTE technology </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">which will further intensify
competition in the broadband internet space. Currently</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">PT </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">First
Media</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Tbk (&#8220;First
Media&#8221;), which is part of the </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Lippo Group</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,
is operating LTE/</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Wi</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-Max services in the Greater Jakarta
area.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We have been taking various
measures in order to mitigate the impact of intense competition in our data and
internet businesses. However, we cannot assure you that we will be successful
in mitigating such adverse impact. Competition may further intensify in the
future, which may affect the financial performance of our data and internet
services and thus materially and adversely affect our results of operations,
financial condition and prospects as a whole.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">Competition from existing</font></i><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;"> cellular</font></i><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;"> service
providers and new market entrants may adversely affect our cellular services
business</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The Indonesian cellular
services business is highly competitive. Competition among cellular services
providers in Indonesia is based on various factors, including pricing, network
quality and coverage, the range of services, features offered and customer
service. </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">W</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ith the </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">increasing&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> popularity</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> of smart phones in Indonesia, we
believe that data network quality and coverage, including 4G/LTE coverage, will
increasingly become an intense area of competition. </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our cellular services business,
operated through our majority-owned subsidiary, Telkomsel, competes primarily
against Indosat and XL
Axiata. Several
other smaller GSM and CDMA operators also provide cellular services in
Indonesia, including PT Hutchison </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(3 Indonesia)</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> (&#8220;Hutchison&#8221;)</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> which
is part of the Hutchison Asia Telecom Group and operates under the
&quot;3&quot; or &quot;Tri&quot; brand, and</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> PT Smartfren Telecom Tbk
(&quot;Smartfren Telecom&quot;) </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">which
is part of the Sinar Mas Group</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. In addition to current
cellular service providers, the MoCI may license additional cellular service
providers in the future, and such new entrants may compete with us. </font></p>

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">A number of consolidations among
operators in Indonesia have occurred in recent years. In March 2010, PT Smart
Telecom and Mobile-8 announced that they signed an agreement to use the same
logo and brand under the name &quot;smartfren&quot;. On January 18, 2011,
Mobile-8 acquired PT Smart Telecom, and on 12 April 2011, PT Mobile-8 Telecom
Tbk changed its name to Smartfren</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Telecom</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">XL </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Axiata </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">completed the acquisition of a majority
interest in PT Axis Telekom and merged in 2014, which resulted in XL Axiata
becoming one of the three largest operators and also acquiring additional
frequency allocations to implement 4G/LTE technology. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Further c</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">onsolidation among operators </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">may
occur for them to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">remain
competitive, reduce operating costs and &quot;rebalance&quot; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">the broadband
mobile frequency </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">that require wider frequency band</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">width</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The MoCI also supports operator consolidation, through
not issuing additional or new licenses for cellular players. While operator
consolidation may lead to improved conditions in the cellular telecommunication
industry, it also present challenges for Telkomsel in maintaining its market
position</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">6.</font></i></b><b><i><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Risks
Related to Development of New Businesses </font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">We believe that efforts to develop new businesses other
than the telecommunication business </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">such as digital consumer and enterprise
businesses,</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;"> as well as international expansion are necessary to ensure
continuing business growth. Risks related to new business development include
competition from established players, suitability of business model, </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">competition from
disruptive new technologies or business models, </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">the need to
acquire new expertise </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">in the new areas of operation</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">, and&#160; risks
related to online media which include intellectual property, consumer
protection and confidentiality of customer data. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Focusing on</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
international expansion </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">is&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> one of our strategic business intiatives</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. In particular, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">we have started expansion into</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> a number of jurisdictions in telecommunications or data related
areas</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, namely Singapore, Hong
Kong</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Macau, Timor Leste, Australia, Myanmar, Malaysia,
Taiwan, United States of America, Saudi Arabia</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. In May 2015, we have also entered into an agreement and plan of
merger with </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">AP Teleguam Holdings,
Inc, the parent company of GTA Teleguam</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,
which has </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">voice, mobile, fixed
broadband</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> IPTV</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> operations</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The acquisition is subject to regulatory
approvals. Expanding our operations internationally exposes us to a number of
risks associated with operating in new jurisdictions </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">for&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> example, our
international operations could be adversely affected by political or social
instability and unrest, by regulatory changes, such as an increase in taxes
applicable to our </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">operations</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, macroeconomic instability, limitations on or
controls on the foreign exchange trade, competition from local operators,
difference in consumer preferences and a lack of expertise in the local markets
in which we will be in operation. Any of these factors could cause our expected
returns from our expansion to be limited and could have a material and adverse
effect on our business, results of operations and financial condition.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ITEM 4. <a name=ITC></a>INFORMATION ON THE COMPANY</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">A.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">HISTORY AND
DEVELOPMENT OF THE COMPANY</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">TELKOM INDONESIA
PROFILE</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We continue to seek
to innovate and develop synergies among all products, services and solutions.
Our long-term vision, which was revised in August 2015 as part of our corporate
strategic planning process to reflect our aspirations to be a more significant
player in the digital space, is to &#8220;Be the King of Digital in the Region&#8221;. Our
mission is to &#8220;Lead Indonesian Digital Innovation and Globalization&#8221;. In order
to achieve such vision and mission, we are undergoing a comprehensive
transformation in five aspects: human resources transformation, business
transformation, structural transformation, cultural transformation, and
infrastructure and system transformation.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:8.55pt;">
  <td valign=top width=34% style="height:8.55pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Company Name</font></b></p>
  </td>
 <td valign=top width=3% style="height:8.55pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="height:8.55pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">Perusahaan
  Perseroan (Persero) PT Telekomunikasi Indonesia Tbk</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Abbreviated Name</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">PT Telkom
  Indonesia (Persero) Tbk</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Commercial Name</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Telkom</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Line of Business</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Telecommunications
  and network services</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Tax Identification Number</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">01.000.013.1-093.000</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Certificate of Company Registration</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">101116407740</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Business License</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">510/3-0689/2013/7985-BPPT</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Domicile</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Bandung, West Java</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Address</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Jl. Japati No. 1,
  Bandung 40133, Indonesia</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Telephone</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">+62-22-4521404</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Facsimile</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">+62-22-7206757</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Call Center</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">147</font></p>
  </td>
 </tr>
<tr style="height:4.5pt;">
  <td valign=top width=34% style="height:4.5pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Website</font></b></p>
  </td>
 <td valign=top width=3% style="height:4.5pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="height:4.5pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" style="font-size:10.0pt;line-height:normal;text-decoration:none;">www.telkom.co.id</font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">. The information found on our website does
  not form part of this Form 20-F and is not incorporated by reference herein. </font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">E-mail</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">corporate_comm@telkom.co.id,
  investor@telkom.co.id</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Rating</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">idAAA (Pefindo)
  for 2012, 2013, 2014 and 2015</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Date of Legal Establishment</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">November 19, 1991</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Legal Basis of Establishment</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Based on
  Government Regulation No.25 of 1991, the status of our Company was converted
  into a state-owned limited liability corporation (&quot;Persero&quot;), based
  on the Notarial Deed of Imas Fatimah, S.H. No. 128 dated September 24, 1991,
  as approved by the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Ministry&nbsp;</font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;"> of Justice of the Republic of Indonesia by virtue
  of Decision Letter No.C2-6870.HT.01.01.Th.1991 dated November 19, 1991 and as
  announced in the State Gazette of the Republic of Indonesia No.5 dated
  January 17, 1992, Supplement to the State Gazette No.210.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Ownership</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-22.3pt;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">The Government of the Republic of Indonesia  52.55%</font></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-22.3pt;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Public  47.45%</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Listing on the Stock Exchange</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Our shares of
  common stock were listed on the IDX and NYSE on November 14, 1995. Since June
  5, 2014, our shares of common stock ceased to be traded on the London Stock
  Exchange (&#8220;LSE&#8221;), and since May 16, 2014, our shares of common stock have
  been deregistered from the Tokyo Stock Exchange.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Stock Code</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#8220;</font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">TLKM</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#8221;&nbsp;</font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;"> on
  the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#8220;</font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">IDX</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#8221;&nbsp;</font></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#8220;</font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">TLK</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#8221;&nbsp;</font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;"> on
  the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#8220;</font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">NYSE</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#8221;&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Authorized Capital</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">1 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Series A </font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Dwiwarna
  Share</font><i><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;"> </font></i><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">and 399,999,999,999 shares </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Series B</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Issued and Fully Paid Capital</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">1 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Series A </font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Dwiwarna
  Share</font><i><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;"> </font></i><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">and 100,799,996,399 shares </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Series B</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Offices</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">1 Head Office</font></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">7 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Telkom
  Regional</font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;"> Offices and 58
  Telecommunication Areas</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Service Centers</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">572 Plasa Telkom outlets</font></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2&nbsp;</font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">
  International GraPARI centers in Hong Kong</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> and Singapore</font></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">4</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">14&nbsp;</font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;"> GraPARI centers (including those managed by third
  parties)</font></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">392&nbsp;</font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">
  GraPARI Mobile Units</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Other Information</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Public Accountant</font></b></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">KAP Purwantono, Sungkoro &amp; Surja (a member firm
  of Ernst &amp; Young Global Limited)</font><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></b></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Securities Administration Bureau</font></b></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">PT Datindo Entrycom</font></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Trustee&nbsp;</font></b></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">PT Bank CIMB Niaga Tbk</font></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Custodian&nbsp;</font></b></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">PT Kustodian Sentral Efek Indonesia</font></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Rating Agency</font></b></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">PT Pemeringkat Efek Indonesia</font></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ADR&nbsp;</font></b><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;"> Depositary</font></b></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">The Bank of New York Mellon Corporation</font></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Authorized Agent for Services in the United States
  of America</font></b></p>
  <p style="margin-bottom:.0001pt;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Puglisi and Associates</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Employee Union</font></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">:</font></b></p>
  </td>
 <td valign=top width=63% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">The </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Telkom Employees Union </font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">(</font><i><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Serikat Karyawan Telkom</font></i><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;"> or &quot;SEKAR&quot;)</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">CAPITAL MARKET SUPPORTING PROFESSIONAL</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=top width=17% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=18% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Capital Market Supporting Professional</font></b></p>
  </td>
 <td valign=top width=2% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=23% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Address</font></b></p>
  </td>
 <td valign=top width=2% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=22% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Service</font></b></p>
  </td>
 <td valign=top width=2% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Assignment Period</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" style="font-size:9.0pt;">Public
  Accountant</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">KAP Purwantono, Su</font><font face="Times New Roman" style="font-size:9.0pt;">ngkoro&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">
  &amp; Surja (Member firm of Ernst &amp; Young Global Limited)</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=23% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Indonesia Stock Exchange
  Building Tower 2, 7<sup>th</sup> Floor</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Jl. Jend. Sudirman Kav.
  52-53</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Jakarta - 12190</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=22% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Conducted Integrated
  Audit of PT Telkom Indonesia (Persero) Tbk (&#8220;Telkom&#8221;) and subsidiaries.</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">2015,2014,2013,2012</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" style="font-size:9.0pt;">Securities
  Administration Bureau</font></b></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">PT Datindo Entrycom</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=23% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Wisma Sudirman</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Jl. Jend. Sudirman Kav</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">.&nbsp;</font><font face="Times New Roman" style="font-size:9.0pt;"> 34-35</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Jakarta - 10220</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=22% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Acts as Custodian of
  Telkom common stocks which being traded in Indonesia Stock Exchange.</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Since IPO Telkom
  1995</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">T</font></b><b><font face="Times New Roman" style="font-size:9.0pt;">rustee&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">PT Bank CIMB Niaga
  Tbk.</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=23% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Graha Niaga, 20<sup>th</sup>
  Floor</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Jl. Jend. Sudirman Kav. 58</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> Jakarta - 12190</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=22% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Represents the
  interest of Bondholders with the Company for bonds II Telkom.</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">2010</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">C</font></b><b><font face="Times New Roman" style="font-size:9.0pt;">ustodian&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">PT Kustodian Sentral
  Efek Indonesia</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=23% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Indonesia Stock Exchange
  Building Tower 1, 5<sup>th</sup> Floor</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Jl. Jend Sudirman Kav. 52-53</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Jakarta - 12190</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=22% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:12.6pt;text-indent:-12.6pt;"><font face=symbol lang=IN style="font-size:9.0pt;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
  </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Provide central custodian
  service and stock transaction settlement at IDX.</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:12.6pt;text-indent:-12.6pt;"><font face=symbol lang=IN style="font-size:9.0pt;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
  </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Storage service and
  settlement for securities transaction, distribution of corporate action
  result.</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Since 1995</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">RATING AGENCY</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">PT Pemeringkat Efek
  Indonesia</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=23% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Panin Tower Senayan City, 17<sup>th</sup>
  Floor</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Jl. Asia Afrika Lot. 19
  Jakarta - 10270</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=22% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Provide rating over
  credit risk for Telkom bond issuance.</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">2012, 2013, 2014</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">ADS </font></b><b><font face="Times New Roman" style="font-size:9.0pt;">Depositary&nbsp;</font></b><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> &nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">The Bank of New York
  Mellon</font><font face="Times New Roman" style="font-size:9.0pt;"> Corporation</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=23% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">101 Barclay Street, New
  York, United State of America -  10286</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=22% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Acts as ADS stock
  Custodian which being traded at NYSE.</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Since 1995</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">AUTHORIZED AGENT FOR
  SERVICES IN THE UNITED STATES OF AMERICA</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Puglisi and
  Associates</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=23% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">850 Library Ave # 204,
  Newark, DE 19711, United States</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=22% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Authorized representative in
  the United States in connection with the Securities pursuant to the
  requirements of the Act.</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Since </font><font face="Times New Roman" style="font-size:9.0pt;">2012&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Information about
the legislation under which we operate is provided elsewhere in this Form 20-F. A description,
including the amount invested, of our principal capital expenditures and
divestitures (including interest</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> in other companies), since the beginning of our last
three financial years and information concerning our principal capital
expenditures is contained elsewhere in this Form 20-F.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">Telkom
Indonesia Milestones</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;line-height:normal;text-transform:uppercase;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1856-1884</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">On October 23, 1856, the Dutch </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">C</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">olonial </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">G</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">overnment
deployed the first electromagnetic telegraph service operation in Indonesia,
which connected Jakarta (Batavia) and Bogor</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> (</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Buitenzorg</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">)</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. We
consider this event to be part of the beginning of Telkom&#8217;s history and have
thus adopted October 23 as the anniversary of ou</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">r&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> &#8220;founding&#8221;. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In 1884, the Dutch </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">C</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">olonial
</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">G</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">overnment established a private
entity, &quot;</font><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Post en Telegraafdienst</font></i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&quot; to provide postal and
telegraph services.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1906-1965</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In 1906, the Dutch Colonial Government established a
government agency to assume control&#160; postal services and telecommunications in
Indonesia, named Jawatan Pos, Telegrap dan Telepon (</font><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Post, Telegraph en
Telephone Dienst</font></i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">). In 1961, its status was changed to newly-established
state-owned company, Perusahaan Negara Pos dan Telekomunikasi (&quot;PN
Postel&quot;). In 1965, the Government separated postal and telecommunications
services by dividing PN Postel into Perusahaan Negara Pos dan Giro and
Perusahaan Negara Telekomunikasi (&quot;PN Telekomunikasi&quot;).</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1974</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">PN Telekomunikasi was turned into Perusahaan Umum
Telekomunikasi Indonesia (&quot;Perumtel&quot;), which provided domestic and
international telecommunications services, and subsequently spun-off PT
Industri Telekomunikasi Indonesia, which manufactured telecommunications
equipment, into an independent company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1991</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Perumtel was transformed into a state-owned limited liability
company and renamed Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
under Government Regulation No.25 of 1991. Our business operations was then
divided into 12 telecommunication regions which was later reorganized in 1995
into seven Regional Division, namely Regional Division I Sumatra, Regional
Division II Jakarta and the surrounding areas, Regional Division III West Java,
Regional Division IV Central Java and Yogyakarta, Regional Division V East
Java, Regional Division VI Kalimantan, and Regional Division VII Eastern
Indonesia. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1995</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">On May 26, 1995, we and Indosat established Telkomsel, we
conducted </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">o</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ur initial public offering on
November 14, 1995, with our shares listed on the Jakarta Stock Exchange and the
Surabaya Stock Exchange (which have since merged to become the IDX). Our shares
were also listed on the NYSE and the LSE in the form of ADSs, and were publicly
offered without listing on the Tokyo Stock Exchange.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1999</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Law No.36 of 1999 on the Elimination of Telecommunications
Monopoly, which became effective in September 2000, allowed the entry of new
market participants to foster competition in the telecommunications industry.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2001</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We and Indosat eliminated joint ownership and cross-ownership
in certain companies as part of the restructuring of the telecommunications
industry in Indonesia. We acquired Indosat's 35.0% shareholding in Telkomsel,
increasing our shareholding to 77.7%. We divested our 22.5% shareholding in PT Satelit
Palapa Indonesia, or Satelindo, and 37</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">7%
shareholding in PT Lintasarta Aplikanusa. At the same time, we lost our
exclusive rights as the sole operator of fixed line services in Indonesia.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2002</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We divested a 12.72% shareholding in Telkomsel to </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Singapore Telecom Mobile Pte
Ltd (&#8220;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">SingTel Mobile</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#8221;)</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, and decreasing our shareholding in
Telkomsel to 65.0%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We acquired the entire share capital of </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">PINS&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> in three stages, with 30.0% of the shares acquired </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">on </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">August 15, 2002, 15.0% on September
30, 2003 and the remaining 55.0% on December 31, 2004.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2004</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We launched an international direct dialing service for fixed
lines with the access code 007.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2005</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Telkom-2 Satellite was launched to
replace all satellite transmission services that were previously provided by
Palapa B-4, which brought the total of satellite launched by us to eight
satellites, including Palapa A-1.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2009</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We underwent a transformation from an information
telecommunication company to become a Telecommunication, Information, Media and
Edutainment (&quot;TIME&quot;) company. Our new image was introduced to the
public with a new corporate logo and tagline of &quot;the world in your
hand&quot;.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2010</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We completed the JaKaLaDeMa submarine fiber optic cable
project in April 2010 which connected Java, Kalimantan, Sulawesi, Denpasar and
Mataram.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2011</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We commenced the reform of our telecommunications
infrastructure through the Telkom Nusantara Super Highway project, which unites
the Indonesian archipelago from Sumatra to Papua, as well as the True Broadband
Access project to provide internet access with a capacity of 20 Mbps to 100
Mbps to customers throughout Indonesia.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2012</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We increased broadband penetration through the development of
Indonesia Wi-Fi as part of our &#8220;Indonesia Digital Network&#8221; (&#8220;IDN&#8221;) program. We
reconfigured our business portfolio from TIME to TIMES (Telecommunication,
Information, Media, Edutainment and Services) to increase business value
creation.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2013</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">As of 2013, we have been operating in eight jurisdictions,
namely, Hong Kong-Macau, Timor Leste,
Australia, Myanmar, Malaysia, Taiwan and the United States of America.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2014</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font style="border:none windowtext 1.0pt;padding:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We were the first operator in
Indonesia to commercially launch 4G LTE </font></font><font style="border:none windowtext 1.0pt;padding:0in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s</font></font><font style="border:none windowtext 1.0pt;padding:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ervices</font></font><font style="border:none windowtext 1.0pt;padding:0in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> in
December 2014</font></font><font style="border:none windowtext 1.0pt;padding:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font style="border:none windowtext 1.0pt;padding:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font style="border:none windowtext 1.0pt;padding:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2015</font></b></font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font style="border:none windowtext 1.0pt;padding:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We launched </font></font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">IndiHome</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, which
bundles </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">services consisting </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">primarily </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">of
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">broadband </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">internet, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">fixed
wireline </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">(Home Phone), and
interactive TV (Cable UseeTV)</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> services.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">B.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">BUSINESS </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">OVERVIEW&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">VISION AND MISSION</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our vision and mission is stated in our long-term
plans, as approved by the Board of Commissioners on August 7, 2015.</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Vision&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Be the King of Digital in the
Region.</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:67.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-67.5pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Mission&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Lead
Indonesian Digital Innovation and Globalization.</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Telkom is currently transforming itself towards being
a digital company, to become the King of Digital, with respect to the airwaves
through its cellular business, land through its Fiber to the Home program, and
the sea through its Submarine Broadband Highway program and strong regional
footprint. Regional, in this regard, refers to the Asia Pacific region,
including Southeast Asia, East Asia, South Asia and Australia. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">To become a reliable
digital Company, we are transforming human, cultural and organizational
resources in order to lead digital innovation in Indonesia and to lead
Indonesia towards globalization.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">CORPORATE STRATEGY</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Directional Strategy</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We have undertaken a sustainable competitive growth
strategy to support and increase the capitalization of our market. In a dynamic
industrial environment, we seek to implement a disruptive competitive growth
strategy in order to reach our capitalization growth targets in 2020. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Portfolio Strategy</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our Portfolio Strategy is our strategy for the
development of the digital TIMES Telkom Group portfolio synergistically to
provide seamless convergence focused on providing value to our customers
through customer facing units/business segments (&#8220;CFUs&#8221;).</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">3.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Parenting Strategy</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In order to support more effective business growth, we
will continue to conduct strategic control, in order to establish a more
targeted and synergic control of our subsidiary companies. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In order to ensure
that our business transformation is conducted in a smooth and comprehensive
manner from the corporate to the functional levels, we are implementing a
tiered strategy development model. Our corporate strategy which was revised in
2015 was prepared </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">after&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> conducting a strategic situation analysis, and
strategy formulation, strategy implementation, strategy evaluation and control.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">BUSINESS
PORTFOLIOS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our Digital TIMES
Portfolio is part of our effort in order to be more focused on customer value.
Beginning January 1, 2016, we have reorganized our 15 previous portfolios
(consisting of nine product portfolios and six customer portfolios), into six
product portfolios, mapped onto five CFUs, and are in the process of continuing
to reorganize internally to reflect our revised product portfolio and CFU
structure.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our six revised
product portfolios are categorized into several lines of business as follows:</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Telecommunication
Business</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our product
portfolios focused on </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">t</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">elecommunication are:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=vrinda lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Mobile (mobile legacy, i.e. mobile voice and SMS, and
mobile broadband).</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=vrinda lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Fixed (</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">f</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ixed </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">v</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">oice, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">f</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ixed </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">roadband).&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=vrinda lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Interconnection </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> International Traffic
(</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">w</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">holesale&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> telecommunication
services &#8211; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">interconnection&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">international
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">usiness).&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=vrinda lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Network Infrastructure (</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">atellite&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and t</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ower&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> operations</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">).&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Information
Business</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our product
portfolio focused on the information business for Digital Enterprise, which
includes </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Information&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Communications Technology
Platform (Enterprise Connectivity</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> IT Services, Data Center </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Clouds,
BPO, Devices/Hardware)</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Smart Enabler Platform (Payments, Digital
Advertising, Big Data </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Other Smart Enablers).</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Media and
Edutainment</font></b><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> </font></i></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Business&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our product
portfolios focus on Media and Edutainment</font><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> </font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">is </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Digital Consumer
(e-Commerce, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">v</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ideo-TV, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">digital
m</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">obile).&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">All </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">of our </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">product
portfolios are mapped </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">o</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">nto </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">one
or more of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">five&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> new</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> CFU</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,
namely:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=vrinda lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Mobile CFU.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=vrinda lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Digital Service CFU.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=vrinda lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Consumer CFU.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=vrinda lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Enterprise CFU.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=vrinda lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Wholesale and International CFU.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Historically and up
yo the present the largest share of our revenue is contributed from services
related with telecommunications, data and internet. Our business does not
experience significant seasonality. The following is a brief overview of each
of our six product portfolios.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Telecommunication
Business</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">1.</font></b><b><font face="times new roman" lang=MS style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Mobile </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">S</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ervices&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=MS style="font-size:7.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our mobile products
portfolio comprises mobile voice, SMS and
value-added services, as well as mobile broadband. W</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">e </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">provide mobile
or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">cellular </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">communications services with GSM technology through </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">our </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">subsidiary,
Telkomsel</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Mobile services </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">(</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">in</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">cluding&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> mobile
data services</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">) remained the
largest contributor to our consolidated</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> revenues in 2015.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our postpaid mobile services are marketed under the
brand kartuHalo and our prepaid services, which comprise almost 98% of our
mobile subscribers, are marketed under the brands </font><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">simPATI,&nbsp;</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Kartu As and
Loop.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=calibri,sans-serif lang=IN style="font-size:10.0pt;">&#8211;</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">kartuHALO </font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">is
a postpaid mobile telecommunications service for the premium, professional and
corporate market segment. kartuHalo offers two package options for customers,
namely, HaloFit My Plan and HaloFit Hybrid.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=calibri,sans-serif lang=EN-US style="font-size:10.0pt;">&#8211;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">simPATI </font></i></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">is a prepaid </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">service&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> that targets the needs of
the middle class market segment to provide a high quality telecommunication
service, through the purchase of starter packs and top up vouchers</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">simPATI
offers simPATI Discovery and simPATI Social Max packages, which have various
promotional packages from time to time.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=calibri,sans-serif lang=IN style="font-size:10.0pt;">&#8211;</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Kartu A</font></i></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s </font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">is a prepaid service</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> targeting
the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">lower middle class market
segment, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">offers a more attractive price</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> compared to simPATI</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=calibri,sans-serif lang=IN style="font-size:10.0pt;">&#8211;</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Loop&nbsp;</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> is a prepaid service targeting the youth segment
through the provision of attractive data packages</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our mobile broadband services, which are marketed
under the Telkomsel Flash name, is supported by LTE/HSDPA/3G/EDGE/GPRS
technology. As of December 31, 2015, we </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">had 43.8 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">million Telkomsel Flash
subscribers, compared </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">to 31.2 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">million subscribers as of December 31, 2014.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We launched 4G services in December 2014, with initial
coverage in Jakarta and Bali, and were the first operator in Indonesia to
launch 4G services commercially. In 2015, we continued to deploy 4G/LTE
services in more cities, with 2.2 million 4G/LTE subscribers and covering </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">14&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
cities </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">with 17,869 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">BTS as of December 31, 2015.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">total
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">mobile cellular </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">subscriber </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">base
increased from 140.6 million subscribers</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, comprising</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
2.9</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> million postpaid subscribers </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">and 137.7 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">million
prepaid subscribers, as of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">201</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">4&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> to 152.6 million</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> subscribers, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">comprising 3.5 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">million postpaid
subscribers </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">and 149.1 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">million prepaid subscribers</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> as</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">December
31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">201</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">5,&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> an
increase of 8.6% or 12.1 million subscribers.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">2.</font></b><b><font face="times new roman" lang=MS style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">Fixed </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">S</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ervices&nbsp;</font></b><b><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our fixed product portfolio comprises fixed voice and
fixed broadband services.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">In 2015, we continued to actively promote our
&#8220;more for less&#8221; program, which aims to provide customers with more relevant
benefits at a lower price through bundling services. Our
bundling program is marketed under the commercial name IndiHome,
which bundles in all in one packages at a competitive price services consisting
primarily of broadband internet, fixed wireline residential phone, and
interactive TV services.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">As of December 31, 2015, we had 10.3 million
fixed voice lines in service, and 4 million fixed broadband subscribers.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We terminated our Flexi service on May 31, 2015
although the previous subscribers were able to use their old Flexi telephone
numbers </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">until&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> December 2015. In total, we migrated a total of over
1.3 million subscribers to Telkom under our migration program.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">3.</font></b><b><font face="times new roman" lang=MS style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Interconnection and </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">I</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">nternational
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">T</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">raffic&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our interconnection and international traffic product
portfolio includes wholesale telecommunications services and our international
business which is conducted through our subsidiary Telin. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Wholesale telecommunications services comprise </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">primarily </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">interconnection
services, as well as network services, Wi</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Fi, VAS, hubbing, data center and
content platform, data and internet, and solutions. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">earn revenue
from interconnection services from other telecommunications operators </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">that utilize our </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">network infrastructure in Indonesia, both for calls
that end at or transit via </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">our </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">network. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Similarly</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">we&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> also pay interconnection fees to other
telecommunications operators when </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">we
use </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">their networks to connect a call from
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">our </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">customers. Interconnection services that we provide to
other telecommunications operators comprise domestic and international
interconnection services.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We also have limited operations and/or interests in a
number of international jurisdictions in telecommunications or data related
areas, namely,</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; Singapore, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">through Telekomunikasi Indonesia International
Pte. Ltd. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(&quot;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Telin </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Singapore&quot;),
where operate as a facility based operator </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">as </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a telecommunication provider</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; Hong</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> K</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ong, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">through Telekomunikasi Indonesia International
Ltd. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(&quot;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Telin </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Hong
Kong&quot;), where we are a mobile virtual network operator (&quot;MVNO&quot;),
operate a GraPARI center for Indonesian workers and provide wholesale voice,
wholesale data and retail mobile services;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; Macau, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">through Telkom </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Macau Limited, where we provide retail mobile services;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; Timor Leste, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">through Telekomunikasi Indonesia International
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(TL) S.A.(&quot;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Telin&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Timor
Leste&quot;), where we provide cellular voice and broadband internet services,
corporate solutions as well as wholesale voice and data;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; Australia, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">through&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
Telekomunikasi Indonesia International Pty Ltd. (&quot;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Telkom </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Australia&quot;),
where we provide business process outsourcing, information technology
outsourcing, and IT services;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; Myanmar, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">through </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">branch offic</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e, where we support the implementation of Myanmar via
Mumbai, India International network project,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> and also observe</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
the</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> telecommunication business
potential in the country</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; Malaysia, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">through Telekomunikasi Indonesia International
Malaysia Sdn. Bhd</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. (&quot;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Telin </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Malaysia&quot;),
where we have a minority interest in a joint venture providing MVNO services;</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; Taiwan, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">through Telkom </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Taiwan Limited, where we provide </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">retail mobile </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">services;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; United States of
America, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">through&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Telekomunikasi Indonesia International (USA) Inc.
(&quot;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Telkom USA</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&quot;), where we undertake businesses relating to
telecommunications products, telecommunication services, information technology,
information technology products and information technology services;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; Saudi Arabia, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">through&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
a </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">branch offic</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e, where we provide MVNO services and operate a
GraPARI center for Indonesian pilgrims.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">4.</font></b><b><font face="times new roman" lang=MS style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">Network </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Infrastructure&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our network infrastructure product portfolio includes
satellite operations and tower operations.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Satellite </font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-GB style="font-size:10.0pt;line-height:normal;">Our satellite operations consist primarily
of leasing satellite transponders capacity to broadcasters and operators of
VSAT, cellular and IDD services and ISPs, as well as providing earth station
satellite up linking and down linking services for domestic and international users.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We are currently in the process of developing t</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">he Telkom-3S satellite</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, which is currently </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">planned for launch in </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">late </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2016</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. We have also entered into another contract for the
procurement of a </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Telkom-4 satellite, which is currently planned for launch
around the end of 2017,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> as a
replacement for Telkom-1</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We manage our satellite business through our
subsidiaries, Metra and Patrakom.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Tower </font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Through our subsidiary, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Mitratel</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, we
lease out space to other operators to place their telecommunications equipment
on these towers for which we receive a fee.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=MS style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">Information
Business</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=MS style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Digital Enterprise
Product Portfolio</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">digital
enterprise product portfolio, which focuses on the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">information&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
business, includes the following.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Information and Communications Technology (ICT)
Platform</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; Enterprise
connectivity, including fixed voice, fixed broadband, IP-VPN, lease channel
(LC), ethernet, and managed network services;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; IT services,
including system integration, IT outsourcing, premises integration, and
professional services;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; Data center </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">and&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
cloud, including data center (EDC, colocation, hosting, DRC, CDN) and cloud
(Infrastructures as a Service (&quot;laaS&quot;), Software as a Service
(&quot;SaaS&quot;), and Unified Communications as a Service</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> (</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&quot;UcaaS&quot;);&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; Business Process
Outsourcing (BPO) services; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; Devices/hardware,
which offer hardware sales/support (CPE trading, CPE services, and IT
security).</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Smart Enabler Platform</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; Payment, which
offers bill payment, online payment gateway, e-money, and direct carrier
billing;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; Digital advertising,
including digital out-of-home, mobile advertising, digital agency and analytics
solutions; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-&#160;&#160;&#160;&#160;&#160;&#160; Big data and other
smart enablers, which offer platform services.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">Media and
Edutainment Business</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=MS style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Digital Consumer</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our digital consumer business portfolio comprises
primarily media and edutainment services offered to consumers such as
e-commerce services, video/TV services (pay TV, IPTV and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">O</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ver </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">T</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">he </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">T</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">op
(OTT) TV), and digital mobile services (game, music and mobile digital life
services).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">NETWORK
INFRASTRUCTURE AND DEVELOPMENT</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">We believe
that our achievement in 2015 was the result of our consistency in carrying out
three main focus strategies, namely maintaining double digit growth for
Telkomsel, the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">IDN </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">program for </font><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">&#8220;Driving the Digital Business&#8221; and international expansion to &#8220;Stretch
and Expand International Business&#8221;. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">In
connection with our previous &quot;Great to Break 100/300&quot; strategy and
target to reach Rp100 trillion in revenues and Rp300 trillion in market
capitalization in 2015, our Directorate of Network, Information and Technology,
and Solution had established a systematic framework derived from our strategic
plans and key initiatives. We</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> ha</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">ve also made various strategic plans to
support our vision to &#8220;Be </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">t</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">he King of Digital in the Region&#8221;. We are
committed to continuing the development of our telecommunication infrastructure
so as to further strengthen our Company in Indonesia and globally.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">In line with
our objectives, we classify our network infrastructure into two categories,
namely, our international networks infrastructure, to support our international
expansion program, and our national network infrastructure, which supports the
IDN program.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">International
Networks</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We operate
international gateways in Batam, Jakarta, and Surabaya to route outgoing and
incoming calls on our IDD service (&#8220;007&#8221;).</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We curren</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">tl</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">y own
or have interests in global submarine cable infrastructure that connects the
continents of Europe, Asia, and America through submarine cable system
consortiums for the Batam Singapore Cable System (BSCS), Dumai Malacca Cable
System (DMCS), Asia America Gateway (AAG), Singapore Japan Cable System (SJC),
Southeast Asia-United States </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">of
America </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(SEA-US</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">A</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">), Sulawesi
Maluku Papua Cable System (SMPCS), and Indonesia Global Gateway (IGG) which
will soon be constructed.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We, through o</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ur subsidiary Telin,</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> are also a consortium member in the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">South East Asia &#8211; Middle East -Western Europe
5 (</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8220;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">SEA-ME-WE 5</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">) submarine cable </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">system and the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">SEA &#8211; USA </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">submarine c</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">able </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ystem. SEA-ME-WE5 is a
submarine cable system with a length of approximately 20,000 km stretching from
Dumai, Indonesia to several countries in Southeast Asia, France and Italy, with
direct connection from Indonesia to Europe. </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">This submarine cable system has a capacity of 24 tera
bits per second using 100 Gb technology. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Construction began in September
2014 and the cable system is expected to begin carrying commercial traffic in
the fourth quarter of 2016. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">SEA&#8211;USA&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> is a submarine c</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">able </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ystem with a length of
approximatelly </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">15</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,000 km connect</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ing&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Manado (Indonesia), Davao (Philippines), Piti
(Guam), Oahu (Hawaii, United States), and Los Angeles (California, United
States)</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. Construction began in March 2015 and the cable system is expected to
begin carrying commercial traffic in the fourth quarter of 2016.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">To support
international services </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">for </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">both voice and data, Telin&#160; operates 16 points
of presence in various parts of the world, including in Asia (Dubai, Singapore,
Hong Kong, Malaysia and Tokyo), Europe (London , Frankfurt and Amsterdam) and
the USA (Ashburn, New York, Los Angeles, San Jose and Palo Alto).</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">We plan to
continue with the development of our international network infrastructure to
support our international expansion strategy and vision to be &quot;The King of
Digital in the Region&quot;. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">National
Network</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We believe</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> that in order to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">achieve our vision to become &#8220;</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">The King of Digital</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#8221;</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">,
infrastructure development and the provision of connectivity are very
important, hence, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">we&nbsp;</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> will </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">continue to </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">actualize
digitization in Indonesia through the three IDN </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">program </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">components,
namely id-Access, id-Ring and id-Con.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> continue to</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> pursue development of</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> our
network infrastructure to offer a more efficient and cost-competitive service</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">as </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">part
of the Government&#8217;s Master Plan for the Acceleration and Expansion of
Indonesia&#8217;s Economic Development (</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#8220;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">MP3EI</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#8221;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">) in line with our transformation into a TIMES
provider under our IDN program. In the framework of developing high-quality,
efficient and competitive infrastructure in terms of the costs in delivery
services, we continue to pursue the development and improvement of our network
infrastructure, known as the Telkom One Network, which was built and operated
by Telkom Group. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">IDN </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">program
involves the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">following three program
developments:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">id-</font><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Convergence&nbsp;</font></i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> (&#8220;id-Con&#8221;)</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">: </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">convergence of the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">node service network infrastructure into a
multi-service and multi-screen </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">integrated
NGN</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">i</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">d-Con
is a strategic initiative that focuses on providing a design, development and
delivery of TIMES services platform converging to Telkom Group customers. </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">This converged services platform is leveraged
on our data center facilities, which has reached the Tier-4 design category
and is supported by a cloud management platform to ensure the reliability and
scalability of the TIMES services.</font></p>

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">id-</font><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Ring</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">: </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">development of our transmission</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> network infrastructure into an IP-based and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">optical backbone network</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">In terms of broadband infrastructure
(id-Ring), </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">we are actively</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> developing infrastructure through </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">the IDN </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">program. To date, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">we have</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> built fiber optic cable infrastructure </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">totaling&nbsp;</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> 81,895 km </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">in length </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">from Aceh to Papua, including </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">the </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">SMPCS</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> which </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">we expect </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">will </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">provide&nbsp;</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> a positive impact </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">by
providing</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> equitable access to
broadband information and communication, with the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">more similar</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> quality in all regions of Indonesia.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">3.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">id-</font><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Access</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">: </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">development of our </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">customer access network infrastructure into a </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">high s</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">peed
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">broadband access network </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">through </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">fiber
optic</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and Wi-Fi networks.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We are</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> currently focusing on developing new products </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">for our</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">
IndiHome </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">service, which provides
&#8220;triple play&#8221; services</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> consisting
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">primarily </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">of internet on fiber or high speed
&#8203;&#8203;internet, home phone and IPTV (UseeTV Cable). IndiHome </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">also </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">provides additional </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">or
add-on </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">features such as IndiHome </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Telephone&nbsp;</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> Mania</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> IndiHome Global Call, MelOn, IndiHome View
and Trend Micro Security System.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Fixed
Wireline Network</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">As
of December 31, 2015, we managed &#160;10.3 million fixed wireline (fix</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ed&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> voice)
connections. The following table sets
forth data related to our fixed wireline network as of the dates indicated.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td rowspan=2 valign=top width=39% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Operating Statistics<sup>
  </sup></font></b></p>
  </td>
 <td colspan=9 valign=bottom width=61% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">As of December 31,</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2012</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2011</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=39% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Exchange capacity<sup> </sup></font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">20,376,070<sup>(1)</sup></font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">13,946,801</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">13,918,369</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">13,908,003</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,180,214</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=39% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Installed lines<sup> </sup></font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">20,376,070<sup>(1)</sup></font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">10,341,807</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">10,650,652</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">11,109,156</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">11,005,208</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=39% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Lines in service<sup>(2)</sup></font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">10,276,887</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9,698,255</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9,350,806</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9,034,010</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">8,688,526</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=top width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">(1) Exchange capacity and
  installed lines as of December 31, 2015 includes capacity and lines from
  TDM-based, softswitch and IMS technologies.</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">(2) Lines in service are
  subscriber lines and public telephone lines, including the lines in service
  that we operate under revenue-sharing arrangements.</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Fixed Wireless Network</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">On June 27, 2014, we
entered into a Conditional Business Transfer Agreement with Telkomsel to
transfer parts of our fixed wireless business and migrate</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> subscribers to
Telkomsel. We terminated our Flexi service on May 31, 2015 although the
previous subscribers were able to use their old Flexi telephone numbers </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">until&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
December 2015. In total, we migrated a total of over 1.3 million
subscribers under our migration program. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Cellular Network</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our cellular
services, which are operated by our subsidiary, Telkomsel, have the most
extensive network coverage of any cellular operators in Indonesia. Telkomsel
currently operates on the GSM/DCS, GPRS, EDGE</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> 3.5G</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> and 4G</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
networks. The GSM/DCS network consists of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">15&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> MHz</font><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> </font></i></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">of
bandwidth on the 900 MHz frequency (which includes 7.5Mhz which was reallocated
to Telkomsel for some areas outside Java in the first quarter of 2015 with the
remaining areas in Indonesia expected to be reallocated by the end of 2016, in
connection with the termination of our fixed wireless business) and 22.5 MHz of
contiguous bandwidth on the 1.8 GHz frequency. Telkomsel&#8217;s 3G network uses 15
MHz of contiguous bandwidth on the 2.1 GHz frequency. The range of cellular
services on the GSM network provided by Telkomsel extends to all cities and
districts in Indonesia. Telkomsel was the first operator in Indonesia to
commercially launch 4G&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ervices</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;in
December 2014</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">In 201</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">5</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, Telkomsel added 17,869 BTS</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> units (including 1,575 units of 4G BTS), and as of
December 31, 2015, Telkomsel&#8217;s digital network was supported by 103,289 BTS
units (including 1,761 units of 4G BTS). In 2015, we added </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">an </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">additional
19,094 node B BTSs, bringing it to a total of 57,930 node B BTSs as of December
31, 2015.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Data and Internet Network</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In 2015, we
continued to improve the quality of our data network by installing additional
capacity and coverage. As of December 31, 2015, we provided broadband access </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">using fiber optic with </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">10.0&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
million</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> home</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-pass</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ed.&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> As
of December 31, 2015, our metro ethernet network expanded into 96,866 Gbps
which is able to provide broadband services throughout Indonesia. The Metro
ethernet is also used as the main link for the IP DSLAM, MSAN for IndiHome
broadband services, softswitch, IP VPN and GPON broadband for mobile backhaul
and corporate business solutions. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">As of December 31,
2015, we have extended the capacity of our internet gateway to reach an
installed capacity of 590 Gbps. This ensures the adequacy of the internet
gateway capacity in anticipation of the expected growth for both fixed and
mobile broadband traffic. In 2015, we also operated content distribution
networks</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> (&#8220;CDN&#8221;)</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> with an aggregate capacity of 938 Gbps in
collaboration with Akamai, Google, Yahoo, Conversant and Edgecast. To support
our IPTV services, including TV on demand and video on demand services, as of
December 31, 2015, we operated one central CDN, 4 regional CDNs and 12 edge
CDNs.</font></p>

</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_38"></a><a name="_bclPageBorder38"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Throughout 2015, we
continued to expand the scope of Indonesia&#8217;s Wi-Fi services by deploying
additional </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">N</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">etwork </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">A</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ccess </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">P</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">oints either through internal development programs and
various forms of cooperation with third parties. As of December 2015, a total
of 321,736 access points have been installed.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Data Center</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">through
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">our&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> subsidiary, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">PT </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Sigma&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
Cipta Caraka (&#8220;Sigma&#8221;)</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">also </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">manage
data centers. As of December 31, 2015, we had data centers in nine locations,
with an aggregate capacity of 1,073 racks. We intend to continue to expand the
number of locations and rack capacity in 2016. With the capabilities of this
network, Sigma is able to provide integrated data storage solutions for many
companies in Indonesia, including for those located far from the major cities.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Transmission
Network </font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 201</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">5</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">we
focused on the development of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">our&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">broadband network, which serves as the backbone for
our entire network in</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">frastructure</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. Our backbone telecommunications network consists of
transmission networks, switching facilities and core routers, which connect
multiple access node</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. The transmission links between nodes and switching
facilities comprise </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> terrestrial transmission network, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">in particular</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> fiber optic, microwave and submarine cable system, as well as
satellite transmission networks and other transmission </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">technologies</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The
following tables sets forth certain information relating to our transmission
network and IP backbone network as of the dates indicated.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td rowspan=2 valign=top width=31% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Transmission Network</font></b></p>
  </td>
 <td colspan=11 valign=bottom width=69% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Capacity (number of transmission medium circuits)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">E1</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">STM-1</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">STM-4</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">STM-16</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">STM-64</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">STM-256</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">As of December 31,</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=31% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">2015</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">131,221</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">761</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">119</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">72</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">613</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=31% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">2014</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">129,557</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">708</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">108</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">63</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">398</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">2013</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">131,303</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">736</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">100</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">58</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">337</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:22.5pt;text-align:justify;text-indent:-22.5pt;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">Note: The backbone transmission unit uses E1, STM1
(equivalent to 63 E1), STM4 (equivalent to 4 STM1), STM16 (equivalent to 4
STM4), STM64 (equivalent to 4 STM16), and STM256 (equivalent to 4 STM64). STM or
Synchronous Transfer Mode (&quot;STM&quot;) is the unit typically used in
backbone transmission networks. Facilitating broadband services requires high
capacity transmission networks using nxSTM-1 units. E1 units are used to
support legacy services.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><b><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Sulawesi Maluku Papua Cable System
(&#8220;SMPCS&#8221;)</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">To increase </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">our </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">traffic
capacity and broadband services in 34 eastern Indonesia cities, we are building
a backbone </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ring, </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">known as the SMPCS that connects the</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">se&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> cities that </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">have previously </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">been served by satellite</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> transmission</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">. </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The SMPCS is being developed in two segments, with the first
segment 4,300 km long, serving 21 district capitals and connecting Kendari,
Ambon, Manado, Ternate, Sorong and Fakfak, and the second segment 3,155 km
long, serving 13 district capitals and connecting Sorong, Jayapura, Timika and
Merauke. The entire cable system is expected to be completed around the end of
2016. As of December 31, 2015, 21 cities in the first segment and 13 cities in
the second segment have been connected and begun to use the new system, with
improved latency times and increased traffic from our operations, including
Telkomsel's, compared to satellite transmission.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><b><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Satellite&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">We operate two satellites, namely Telkom-1</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> (108 </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">E</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">)&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">
and Telkom-2</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> (118 </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">E</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">)</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">. Telkom-1 has a capacity of 36
transponders consisting of 24 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">s</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">tandard C-Band transponders
and 12 extended C-band transponders, while Telkom-2 has a capacity of 24 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">s</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">tandard C-band transponders. Both
satellites are controlled from the main control station in Cibinong</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> Bogor, West Java</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">. T</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">o ensure the continuity of services</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> since early 2014, we have had a
backup control station in Banjarmasin</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">South Kalimantan. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">In addition to </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">our Telkom-1 and Telkom-2</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> satellites</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, </font><font color=windowtext face="Times New Roman" lang=EN style="font-size:10.0pt;">we also leased a </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">55.84 </font><font color=windowtext face="Times New Roman" lang=EN style="font-size:10.0pt;">TPE (transponder equivalent to 36
MHz), namely from Satellites of JSAT-5A (132</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> E</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:10.0pt;">) in the amount of 8.94 TPE, Eutelsat 172 A (172 </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">E</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:10.0pt;">) in the amount of 10 TPE,
Chinasat-10 (110 </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">E</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:10.0pt;">) in the amount of </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">9.17&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:10.0pt;"> TPE, Intelsat-8 (169 </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">E</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:10.0pt;">) in the amount of 7.98 TPE, KTSAT
(75 </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">E</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:10.0pt;">) in the amount of 2.35 TPE,
ABS-2 (75 </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">E</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:10.0pt;">) in the amount of 1.14 TPE,
TELSTAR-18 in the amount of 1.6 TPE (138 </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">E</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:10.0pt;">)
and</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> APSTAR-6 (134 E) in the
amount of 14.66 TPE</font><font color=windowtext face="Times New Roman" lang=EN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">To support our business strategy with regard to providing
TIMES services, we have entered into a contract for the construction of the Telkom-3S
satellite, which is currently planned for launch in late 2016, and another
contract for the procurement of the Telkom-4 satellite, which is currently
planned for launch around the end of 2017. Telkom-3S has a 49 TPE capacity that
consists of (i) 24 standard C-band TPE, (ii) 12 Extended C-band TPE and (iii)
13 Ku-Band TPE. Telkom-4, which is planned to be in orbital slot 108 EL and
will have coverage over India, has a capacity of 60 TPE which consists of (i)
24 standard C-band TPE with coverage over Indonesia, (ii) 24 standard C-band
TPE with coverage over India and (iii) 12 extended C-band TPE with coverage
over Indonesia. We expect that Telkom-3S will replace Telkom-2 and Telkom-4
will replace Telkom-1. </font></p>

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We are also currently exploring various alternatives to
cooperate with other operators to provide capacity for us including cooperation
through long-term leases, joint development of a satellite in an orbital slot
covering Indonesia and acquisition of satellites in the orbit.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In addition to the above</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">, we also </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">have&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> 161 IP backhaul links </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">to&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> our network as well as 322 earth
station </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">links </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">with&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> capacity of</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> 1.36 Gbps. Transponder capacities
for these link</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">s&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> mostly through transponder
capacity</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> leased from
foreign providers</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Geographic </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Distribution of Revenues</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">International expansion has become a necessity for us to be able to
maintain a high and sustainable growth rate. We are
developing and expanding our business outside of Indonesia to broaden and
diversify our market. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The following table
sets forth the distribution of our revenues by geographic markets for the
periods indicated.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=top width=35% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;"> <sup> </sup></font></b></p>
  </td>
 <td colspan=7 valign=bottom width=65% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Years Ended December 31,</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=calibri,sans-serif style="font-size:9.0pt;"> <sup> </sup></font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=32% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;"> <sup> </sup></font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(US$ million)</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">External Revenues</font></b><sup><font face=calibri,sans-serif style="font-size:9.0pt;"> </font></sup></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Indonesia</font><sup><font face=calibri,sans-serif style="font-size:9.0pt;"> </font></sup></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">81,095</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">87,896</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">100,456</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">7,287</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Foreign Countries</font><sup><font face=calibri,sans-serif style="font-size:9.0pt;"> </font></sup></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">1,872</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">1,800</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">2,014</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">146</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total</font></b><sup><font face=calibri,sans-serif style="font-size:9.0pt;"> </font></sup></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">82,967</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=calibri,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">89,696</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">102,470</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">7,433</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">OVERVIEW OF
TELECOMMUNICATION SERVICES RATES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Under Law No.36 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">of
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1999 and Government Regulation No.52 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2000,
tariffs for operating telecommunications network and/or services are determined
by providers based on the tariff type, structure and with respect to the price
cap formula set by the Government.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Fixed line telephone
tariffs</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Government has issued a new adjustment tariff formula
which is stipulated in the Decree No.15/PER/M.KOMINFO/4/2008 dated April 30,
2008 of the Ministry of Communication and Information (&#8220;MoCI&#8221;) concerning
&#8220;Mechanism to Determine Tariff of Basic Telephony Services Connected through
Fixed Line Network&#8221;.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Under the Decree, tariff structure for basic telephony
services connected through fixed line network consists of the following:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Activation fee</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Monthly subscription charges</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Usage charges</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Additional facilities fee</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Mobile cellular telephone tariffs</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">On April 7, 2008, the MoCI issued Decree
No.09/PER/M.KOMINFO/04/2008 regarding &#8220;Mechanism to Determine Tariff of
Telecommunication Services Connected through Mobile Cellular Network&#8221; which
provides guidelines to determine cellular tariffs with a formula consisting of
network element cost and retail services activity cost. This Decree replaced
the previous Decree No.12/PER/M.KOMINFO/02/2006.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Under MoCI Decree No.09/PER/M.KOMINFO/04/2008 dated
April 7, 2008, the cellular tariffs of operating telecommunication services
connected through mobile cellular network consist of the following:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Basic telephony services tariff</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Roaming tariff, and/or </font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Multimedia services </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">tariff</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">with the following traffic structure:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Activation fee</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Monthly subscription charges</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Usage charges</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Additional facilities fee.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Interconnection </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">tariffs&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Indonesian Telecommunication Regulatory Body
(&#8220;ITRB&#8221;), in its letter No.262/BRTI/XII/2011 dated December 12, 2011, decided
to change the basis for SMS interconnection tariff to cost basis with a maximum
tariff of Rp23 per SMS effective from June 1, 2012, for all telecommunication
provider operators. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Based on letter No.118/KOMINFO/DJPPI/PI.02.04/01/2014
dated January 30, 2014 of the Director General of Post and Informatics, the
Director General of Post and Informatics decided to implement new
interconnection tariff effective from February 1, 2014 until December 31, 2016,
subject to evaluation on an annual basis. Pursuant to the Director General of
Post and Informatics letter, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">our&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Company and Telkomsel are required to submit the
Reference Interconnection Offer (&#8220;RIO&#8221;) proposal to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ITRB to be
evaluated</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Subsequently, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ITRB in its letters
No.60/BRTI/III/2014 dated March 10, 2014 and
No.125/BRTI/IV/2014 dated April 24, 2014
approved Telkomsel and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">our&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Company&#8217;s revision of RIO regarding the
interconnection tariff. Based on the letter, ITRB also approved the changes to
the SMS interconnection tariff to Rp24 per SMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">d.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Network lease </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">tariffs&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Through MoCI Decree No.03/PER/M.KOMINFO/1/2007 dated
January 26, 2007 concerning &#8220;Network Lease&#8221;, the Government regulated the form,
type, tariff structure, and tariff formula for services of network lease.
Pursuant to the MoCI Decree, the Director General of Post and Telecommunication
issued its Letter No. 115 Year 2008 dated March 24, 2008 which stated &#8220;The
Agreement on Network Lease Service Type Document, Network Lease Service Tariff,
Available Capacity of Network Lease Service, Quality of Network Lease Service,
and Provision Procedure of Network Lease Service in 2008 Owned by Dominant
Network Lease Service Provider&#8221;, in conformity with the Company&#8217;s proposal.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Tariff for other services</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The tariffs for satellite lease, telephony services,
and other multimedia are determined by the service provider by taking into
account the expenditures and market price.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">MARKETING
STRATEGY</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">We </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">have
</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">implemented </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">a comprehensive marketing strategy to
bolster our brand and to boost sales as well, including through marketing
communication activities and product and service distribution channel
development.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">We
implement a &#8220;paradox marketing&#8221; framework in managing our marketing as
illustrated in following diagram:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><img border=0 height=295 src="x16040122310900.jpg" width=369>&nbsp;</p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In our
implementation of the &#8220;paradox marketing&#8221; framework</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;line-height:normal;"> </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">as illustrated above, the &#8220;more for less&#8221; concept is
based on the value pr</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">o</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">position of the products and services we offer to
customers, with the aim that customers can acquire more relevant benefits at a </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">lower </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">price&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> compare</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">d&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> to our competitors</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, with mass customization that is in line with
customers&#8217; requirements for our product</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:11.0pt;line-height:normal;"> </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and
services.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:5.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the consumer
segment business portfolio (which includes</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> consumer home services </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> consumer personal
services)</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">i</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">n 2015, we introduce
the new IndiHome service, which bundles in all in one packages at a competitive
price </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">services consist</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ing primarily </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">broadband </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Internet, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">fixed
wire line residential p</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">hone</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">i</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">nteractive
TV </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">services. The IndiHome package
includes high speed internet services of up to 100 Mbps, and
domestic calls (which may include, depending on the specific package, a limited
amount of free domestic calls). The interactive TV service, which is supported
with IPTV technology, provides customers with a new flexible way to watch
television that allows customers to pause, rewind and replay content, and also
to select and watch re-runs of TV programs which has aired up to 7 days before.
The IndiHome package also includes free unlimited music streaming from MelOn
digital music service and three-months free antivirus protection. In addition, we
have also developed additional or add-on services to provide more benefits to
the customers, such as IndiHome Telephone Mania, an unlimited voice call plan
from a home phone to any Telkomsel phone numbers, IndiHome Global Call, an
international call plan with special prices to selected favorite destination
countries, and Seamless wifi.id, an add-on service for IndiHome customers to
enjoy unlimited internet access at all Indonesia </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Wi-Fi&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> access
points in Indonesia. To provide the best experience to our customers, we have
also focused on the latest infrastructure technology based on a fiber optic
network, which provides more reliable, stable and robust connectivity</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> that
is deployed as part of the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">IDN
program</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The IndiHome service
was developed based on the &#8220;more for less&#8221; strategy framework, whereby
customers get more benefits with less cost compared to the cost of the
individual services, and which we believe is an example of our focus on value
innovation to strengthen our positioning and differentiation compared to
competitors.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:5.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">corporate&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
segment business portfolio (which includes</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> enterprise, government and business customers)</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> we
have 10 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">primary&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> marketing strateg</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ies,
as outlined below</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">:&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Enhancing Center of Excellence Strategy</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, which relates to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">development
of human resources, and particularly the development of account management
teams;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">New Enterprise Business </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Development </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Process</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, a strategy relating to
our business development process for the enterprise market, covering strategic
account management, CRM enhancement, customer service and team incentives;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">3.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Smart Business Portfolio</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Unlocking, which is a business and customer portfolio
development strategy that includes customer experience enhancement and service
quality enhancement.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">TelkomGroup Business Synergy improvements, a
st</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">r</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ategy aimed at enhancing synergies within Telkom Group businesses by
exploiting the competitive advantages of different subsidiaries, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">covering&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
pricing synergy, product/solution
synergy and channel/ promotion synergy within </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Telkom Grou</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">p;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">High End Market Focus </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Differentiation
Strategy</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> a strategy </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">relating
to the</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> implementation of brand
and marketing communications, including marketing program for new
products/solutions</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">International MNC Expansion </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">IMEX)</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, a
strategy to p</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">rovid</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> ICT
solution</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> for Indonesian
multinational compan</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ies that are
expanding their </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">business&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> internationally;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">7.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Building </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Paradox Business Model for
Enterprise Segment, a strategy aimed at developing the paradox business model
for enterprise customers to create a digital ecosystem with mutual benefit</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> for
entities</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">8.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Enhancing </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Indon</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">sia
Digital Convergence Program (INDICO</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">)
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Program</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, which </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">is
a derivative program</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> of the IDN program</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">but&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> focus</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ed
more </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">on </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">development
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">digital convergence technology for </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">enterprise market</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">9.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Synergizing integrated Ecosystem Business in
Enterprise Market</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> a strategy to&nbsp;strengthen our position in the
enterprise market by providing solutions based on the customer&#8217;s ecosystem,
including deploying Fiber to the High End Market (FTTHEM) to support the
ecosystem business</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">10.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Transforming Emerging Business Portfolio for
Ent</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">erprise&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Market, a strategy </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">to&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> prepar</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">for
the emergence of new business portfolio</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s resulting from </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">dynamic business changes in </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the e</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">nterprise
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">m</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">arket.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:5.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We implemented a
revised </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">marketing strategy</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> in early 2015</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> i</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">n the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">wholesale </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">international&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> segment business portfolio, which we believe</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> is a disruptive strategy that aim</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> to
create a new equilibrium between domestic and international wholesale business
by increasing the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">international
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">traffic sources through
attractive business schemes and models both for the wholesale and retail</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. For example,
we have created partnership with several global partners who have the customer
base to accommodate the retail activity of each parties. We and Telkomsel have
entered into agreements with various foreign telecommunications operators that
have subscriber bases to cap wholesale interconnection revenue and/or cost</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Such
revenue and/or cost cap allows operators to offer promotional schemes to their
customers for international voice traffic.</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> The scheme has </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">generally
received</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> a positive response from
International wholesalers</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and resulted in
increasing international voice traffic</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We believe this is an example
of our </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">innovation </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">i</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">n the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">traditional fixed-line v</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">oice business</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> wh</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ere</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">traffic&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
has been declining</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">PROMOTION</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">AL STRATEGIES</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our first
strategy with respect to promotion is personalized socializing. This strategy
involves the use of social media as part of a conventional campaign with the
aim of increasing customer engagement through a more customized approach. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our second
promotional strategy is social personalizing where we seek to get the benefits
of a mass media campaign to have a wide reach and increase the awareness of our
products and brands among potential customers, while still maintaining high
engagement and participation.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=black face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">Our promotional strategy for the corporate segment, which is
comprised of enterprise and business (&quot;MSME&quot;) segments, is
implemented by using Telkom Solution as an &quot;umbrella brand&quot; for each
segment. As part of our strategy, we implement a &quot;paradox marketing&quot;
strategy, which is an approach for the enterprise and MSME segments, which is
characterized by high competition and high demanding customers. We apply a
strategic account management method for our corporate customers through
competent account managers. Our account managers act in a customer advocacy
function to maintain our relationships with as well as becoming partners to our
customers in order to promote and communicate solutions which are appropriate
to such customers. For the MSME sector, we aim to optimize &quot;omni
channel&quot; marketing</font><b><i><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></b><font color=black face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">by
optimizing the social media and big data analysis for purposes of marketing of
products and solutions. We also approach MSME communities which we manage
through </font><font color=windowtext face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;text-decoration:none;">www.smartbisnis.com&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Distribution</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> </font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Channels&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The following are
the primary distribution marketing channels for our products and services:</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Plasa Telkom</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Outlets</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> </font><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">and </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">GraPARI </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Centers </font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">are o</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">utlets </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">that
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">function as walk-in customer
service points</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, where </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">customers have access to the full range of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Telkom&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Telkomsel&#8217;s respective </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">products and services, including billing,
payment, subscription cancellation</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> promotion to complaint handling. As of
December 31, 2015, we </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">managed&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 572 Plasa Telkom outlets </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">414
GraPARI centers in Indonesia</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">one </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Gra</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">P</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ARI&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
center eanch in Hong Kong and Singapore</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,
and had an additional 32</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">7&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> GraPARI </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">centers </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">which
were managed by third party business partners</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Several of the Gra</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">P</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ARI </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">centers </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">operate on a 24 hour basis. We
also operate </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">392 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">mobile GraPARI </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">units </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">which are sales points located in vehicles which can
travel to reach customers across the country.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Contact centers </font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">are call centers that support our customers&#8217; ability
to access certain of our products and services, including make billing
enquiries, submit complaints, and access certain promotions and service
features.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We operate 24-hour contact center facilities in five
cities, namely Medan, Jakarta, Bandung, Makassar and Surabaya.</font><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">3.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Partnership Stores</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> are extensions of our distribution channels, in
cooperation with a variety of third party marketing outlets such as computer or electronic
stores, banks, and others. </font></p>

<p style="margin-bottom:.0001pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">To increase sales, we also use above and below the
line marketing channels to promote our services to certain parties and
communities. We also continue to place advertisement in printed and electronic
media and implement marketing methods such as point of sales broadcasting as
well as promotion and sponsorship events.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In line with shifting consumer behavior and
lifestyles, we have also actively developed national scale partnerships with
several partners such as Intel and Bank BTN. Through the partnership, we sell
bundle-based products at our partners&#8217; sales outlets.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">4.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Feet on </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Street
</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">are sales agents that conduct direct
marketing of our products, particularly for </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">our </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">IndiHome&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> products</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,
through door-to-door sales, open table</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> discussions</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, exhibitions,
product demonstrations, and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">other
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">similar activities</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">5.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Authorized dealers and retail
outlets</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> are distribution outlets for
a variety of telecommunication products such as </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Speedy </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Instant
cards, starter packs, prepaid SIM cards and top-up vouchers.&#160; These dealers are
non-exclusive, and they receive a discount on all of the products they receive</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Retail
outlets also include outlets jointly operated by us, Telkomsel and PT Pos
Indonesia</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> (Persero)</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, as well as other outlets such as banks</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">6.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Account Management Teams</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> are teams that manage relationships and account
portfolio of large-scale corporate segment (large enterprise), government, and
medium-scale businesses.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">7.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Sales Specialist</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> is a team formed with a high competence as
well as having a deep product knowledge in order to provide appropriate and
effective recommendations of solutions to corporate customers together with
Account Manager.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">8.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Tele Account Management</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> is a team who </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">support MSME customers or prospective business customers through
inbound and outbound calls for pre-sales, sales and other customer services
requirements</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">9.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Channel Partner</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> serv</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">es as a reseller
that helps the Enterprise Service Division in the sales and marketing
activities to seek specific customer&#8217;s requirements (usually in the business
district).</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">10.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Value&nbsp;</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> </font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Added Reseller (VAR)</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, a</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> main line to
manage partnership relation with communities through interaction with the
community business partners either community-based segment/industry or
community-based territory.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">11.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Digital Touch Point</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">It may
be either web or mobile application based channel which are network marketing channel
and as a channel for the entire customer portfolio.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">12.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Website&nbsp;</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> - our website, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">www</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.telkom.co.id and
www.telkomsel.com enables customers to access certain of our products and
services. Available services include e-billing registration, collective billing
registration and submission of complaints. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">13.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Social Media - </font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">we use social media, primarily Facebook and Twitter,
to enable customers to interact with us regarding our products and services. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">LICENSING</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">To provide
national telecommunications services, we have a number of product and service
licenses that are consistent with applicable laws, regulations or decrees.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Following the
issuance of MoCI Regulation No.01/PER/M.KOMINFO/01/2010 (&#8220;MoCI Decree
No.01/2010&#8221;) dated January</font><font face="times new roman" lang=IN style="font-size:10.0pt;"> 25,</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> 2010 concerning the Provision of
Telecommunication Network, we were required to adjust our telecommunications
license to provide telecommunications services. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">In 2015, certain
of our licenses with respect to the following services are in the process of
undergoing periodic evaluation by the Government: (i) local fixed network, (ii)
fixed domestic long distance calls, (iii) fixed international calls, (iv) fixed
closed network operations, which we conduct once every five years and (v)
internet telephony services for public utilization for commercial use. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">We have secured
new licenses that have been adjusted as required, of which are as follows: </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Fixed Network
and Basic Telephony Services</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Based on the
report submitted by us concerning the operation of fixed network and as part of
the adjustment to MoCI Decree No.01/2010, we had our licenses adjusted in 2010 for the
operation of local fixed network, fixed domestic long distance, fixed international
call and fixed closed network, as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">MoCI
Decree No.381/KEP/M.KOMINFO/10/2010 dated October </font><font face="times new roman" lang=IN style="font-size:10.0pt;">28, </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">2010 on the
License of Operating Local Fixed Network and Basic Telephony Services </font><font face="times new roman" lang=IN style="font-size:10.0pt;">Network </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">of PT
Telekomunikasi Indonesia Tbk;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">MoCI
Decree No.382/KEP/M.KOMINFO/10/2010 dated October </font><font face="times new roman" lang=IN style="font-size:10.0pt;">28, </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">2010 on the
License of Operating Fixed Domestic Long Distance and Basic Telephony </font><font face="times new roman" lang=IN style="font-size:10.0pt;">Service
Network </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">of
PT Telekomunikasi Indonesia Tbk;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">MoCI
Decree No.383/KEP/M.KOMINFO/10/2010 dated October </font><font face="times new roman" lang=IN style="font-size:10.0pt;">28, </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">2010 on the
License of Operating Fixed International and Basic Telephony Services </font><font face="times new roman" lang=IN style="font-size:10.0pt;">Network </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">of PT
Telekomunikasi Indonesia Tbk; and</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">MoCI
Decree No.398/KEP/M.KOMINFO/11/2010 dated </font><font face="times new roman" lang=IN style="font-size:10.0pt;">November 12, </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">2010 on the
License of Operating Fixed Closed Network of PT Telekomunikasi Indonesia Tbk. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Following the
issuance of MoCI Decrees No.381, 382 and 383, our previous licenses for
operating a fixed network and basic telephony services previously owned by us
based on MoC Decree No.KP.162 of 2004 dated May 13, 2004 ceased to be in
effect. The licenses do not have a set expiry date, but are evaluated every
five years.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Cellular</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=IN style="font-size:10.0pt;">Telkomsel
holds licenses to operate a nationwide mobile cellular telephone network using
15 MHz of radio frequency bandwidth in the 900 MHz band </font><font face=Times lang=EN-US style="font-size:10.0pt;">(which includes 7.5Mhz which was reallocated to
Telkomsel for some areas outside Java in the first quarter of 2015 with the remaining
areas in Indonesia expected to be reallocated by the end of 2016, in connection
with the termination of our fixed wireless business</font><b><font face=Times lang=EN-US style="font-size:10.0pt;">)</font></b><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">,&nbsp;</font></b><font face="times new roman" lang=IN style="font-size:10.0pt;"> 22.5
MHz of radio frequency bandwidth in the 1</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">.</font><font face="times new roman" lang=IN style="font-size:10.0pt;">8 </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">G</font><font face="times new roman" lang=IN style="font-size:10.0pt;">Hz band and 15
MHz of radio frequency bandwidth in the 2</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">.</font><font face="times new roman" lang=IN style="font-size:10.0pt;">1 </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">G</font><font face="times new roman" lang=IN style="font-size:10.0pt;">Hz band</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font><font face="times new roman" lang=IN style="font-size:10.0pt;"> The
license</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">s&nbsp;</font><font face="times new roman" lang=IN style="font-size:10.0pt;"> do not
have a set expiry date, but will be evaluated every five years. </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Telkomsel also
holds </font><font face="times new roman" lang=IN style="font-size:10.0pt;">licenses
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">from
the</font><font face="times new roman" lang=IN style="font-size:10.0pt;">
Indonesian Investment Coordinating Board</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> that permits</font><font face="times new roman" lang=IN style="font-size:10.0pt;"> Telkomsel to
develop cellular services with national coverage, including t</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">he&nbsp;</font><font face="times new roman" lang=IN style="font-size:10.0pt;">
expansion </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">of&nbsp;</font><font face="times new roman" lang=IN style="font-size:10.0pt;"> its
network capacity. In addition, Telkomsel holds permits and licenses from and
registrations with certain regional governments and/or governmental agencies,
primarily in connection with its operations in such regions, the properties it
owns and/or the construction and use of </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">its BTS</font><font face="times new roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font><b><i><font face="times new roman" lang=IN style="font-size:10.0pt;"> &nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">In connection
with the transfer of the Flexi business to Telkomsel, in September 2014, the
MOCI, through Decree No.934 of 2014, approved the reallocation of the 800 MHz
frequency spectrum being used for our Flexi business to Telkomsel. </font><font face=Times lang=EN-US style="font-size:10.0pt;">Telkomsel has been reallocated 7.5Mhz for some areas
outside Java in the first quarter of 2015, with the remaining areas in
Indonesia expected to be reallocated by the end of 2016</font><font face=Times lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">In 2015, the Government conducted a rearrangement on the 1.8 GHz band
frequency spectrum</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> in order for the
operators including </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Telkomsel, XL
Axiata and Indosat </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">to have</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> contiguous </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">radio frequency bandwith in the 1.8 Ghz band</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">International
Calls</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">We commenced our
international call service in 2004. Our license for operating a fixed network
to provide international call services was adjusted in 2010 to meet the
requirements of MoCI Decree No.01/2010 with the issuance of MoCI Decree
No.383/2010. The license does not have a set expiry date, but it will be evaluated
every five year with the last evaluation ocurring in 2015. Our license is
currently still in the process of being evaluated by the MoCI.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">We have a
license to operate a fixed closed network based on MoCI Decree
No.398/KEP/M.KOMINFO/11/2010, which amends the previous license to meet the
provisions in MoCI Decree No.01/2010. The license allows us to lease the
installed fixed closed network to, among others</font><font face="times new roman" lang=IN style="font-size:10.0pt;">,&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">
telecommunication network and service operators, and to provide an
international telecommunication transmission facility through a SCCS directly
to Indonesia for overseas telecommunication operators.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">According to
MoCI </font><font face="times new roman" lang=IN style="font-size:10.0pt;">Regulation </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">No.16/PER/M.KOMINFO/9/2005
dated October</font><font face="times new roman" lang=IN style="font-size:10.0pt;">
6,</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">
2005 concerning Provision of International Telecommunications Transmission Facilities
through SCCS, overseas telecommunications operators wishing to provide
international telecommunications facilities through the SCCS directly to
Indonesia are required to set up a partnership with a fixed network of
international call services or closed fixed network provider. In line with MoCI
Decree No.16/2005, the international telecommunication transmission facilities
provided through SCCS are served by us on the basis of landing rights attached
to our license to operate fixed network of international call services. We have also
secured landing rights based on the landing right Letter
No.006-OS/DJPT.6/HLS/3/2010 dated March 2, 2010 from MoCI.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">On March 2,
2010, the MoCI issued Decree No.75/KEP/M.KOMINFO/03/2010 granting our
subsidiary, Telin, a license to operate a fixed closed line network which
enables Telin to provide international infrastructure services. Separately,
Telin secured landing rights in Indonesia from the </font><font face=Times lang=EN-US style="font-size:10.0pt;">Directorate General of Post and Telecommunication </font><font face=Times lang=IN style="font-size:10.0pt;">(&#8220;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">DGPT</font><font face="times new roman" lang=IN style="font-size:10.0pt;">&#8221;)&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> to provide
international telecommunications transmission facilities through SCCS.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">VoIP </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">We are licensed
to provide internet telephony services for public utilization for commercial use as
stated in DGPT Decree No.384/KEP/DJPT/M.KOMINFO/11/2010 dated November </font><font face="times new roman" lang=IN style="font-size:10.0pt;">29, </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">2010 on VoIP
services. This license does not have a set expiry date, but it will be
evaluated every five years.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=IN style="font-size:10.0pt;">Telkomsel
is also licensed to provide public </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">VoIP </font><font face="times new roman" lang=IN style="font-size:10.0pt;">services based
on DGPT Decree No.</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">65
of 2015 dated February 3, 2015, which replaced Decision Letter No.226/DIRJEN/2009
dated September 24, 2009, </font><font face="times new roman" lang=IN style="font-size:10.0pt;">regarding the provision of </font><i><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Internet
Teleponi untuk Keperluan Publik</font></i><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> (Internet Telephony for Public Need (</font><font face="times new roman" lang=IN style="font-size:10.0pt;">ITKP</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">) </font><font face="times new roman" lang=IN style="font-size:10.0pt;">services.
This license does not have a set expiry date, but it will be evaluated every
five years by the Government.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">ISP</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">We are licensed
as an ISP under DGPI Decree No.83/KEP/DJPPI/KOMINFO/4/2011 dated April</font><font face="times new roman" lang=IN style="font-size:10.0pt;"> 7,</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> 2011, as
amended by Director General of Post and Informatics Operations Decree No.302 0f
2013. This license does not have a set expiry date, but it will be evaluated
every five years.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=IN style="font-size:10.0pt;">Telkomsel
is also licensed to provide multimedia </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">i</font><font face="times new roman" lang=IN style="font-size:10.0pt;">nternet </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">a</font><font face="times new roman" lang=IN style="font-size:10.0pt;">ccess </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">s</font><font face="times new roman" lang=IN style="font-size:10.0pt;">ervices
with nation</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=IN style="font-size:10.0pt;">wide
coverage under DGPT Decree No.213/DIRJEN/2010. This license does not have a set
expiry date, but it will be evaluated </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">annually, with a comprehensive
evaluation </font><font face="times new roman" lang=IN style="font-size:10.0pt;">every
five years.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Internet
Interconnection Service</font></b></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">We hold a license to provide internet interconnection services by
referring to DGPI Decree No.331</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">/KEP/M.KOMINFO/09/2013 </font><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">dated on September 24, 2013 regarding the license for Internet Interconnection Service </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">(Network Access Point) </font><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">for PT Telekomunikasi
Indonesia Tbk. This license does not have a set expiry date, but it will be
evaluated every five years.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">BWA</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">In July 2009, we
won </font><font face="times new roman" lang=IN style="font-size:10.0pt;">a
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">tender
for a wireless broadband access license and the right to provide BWA services
in 12 zones, comprising </font><font face="times new roman" lang=IN style="font-size:10.0pt;">eight </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">zones on 3.3 GHz (North Sumatra,
South Sumatra, Central Sumatra, West Kalimantan, East Kalimantan, West Java,
JABODETABEK and Banten) and </font><font face="times new roman" lang=IN style="font-size:10.0pt;">five&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> zones on 2.3 GHz (Central Java, East
Java, Papua, Maluku, and the northern part of Sulawesi).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">In August 2009,
the MoCI issued Ministerial Decree No.237/KEP/M.KOMINFO/7/2009 regarding the
Appointment of the Winning Bidders for Packet Switched-Based Local Fixed Access
Network Operators Using the 2.3 GHz Radio Frequency for Wireless Broadband
Services, as last amended by MoCI Decree No</font><font face="times new roman" lang=IN style="font-size:10.0pt;">.</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">325/KEP/M.KOMINFO/05/2012.
Due to inadequate implementation by the winning bidders, the MoCI later issued Regulation
No.19/PER/M.KOMINFO/09/2011 dated September 14, 2011 (&#8220;MoCI Regulation
No.19/2011&#8221;), which released operators on the 2.3GHz radio frequency from the
obligation to use the particular technology specified in the bid terms for the
2.3 GHz radio frequency, which were set out in MoCI Regulation
No.22/PER/M.KOMINF0/04/2009 April 24, 2009 (&#8220;MoCI Regulation No.22/2009&#8221;).
Pursuant to MoCI Regulation No.19/2011, operators on the 2.3 GHz radio
frequency are now permitted to freely choose their technology in providing BWA
on the 2.3 GHz radio frequency, subject to a requirement that they pay an
annual usage rights fee for the third through the tenth year of the license
period in which a technology divergent from that specified in MoCI Regulation
No.22/2009 is used. On January 9, 2012, MoCI announced that it plans to make
available for bidding additional 2.3 GHz radio frequency in the 2300-2360 MHz
range for BWA services utilizing neutral technology.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">MoCI Regulation
No.19/2011 also stipulates domestic component obligations for
telecommunications devices and equipment used in providing BWA on the 2.3 GHz
radio frequency. Initial domestic component obligations are 30% for subscriber
stations and 40% for base stations, to be increased to 50% within five years. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">As a result of the
switch to neutral technology under MoCI Regulation No.19/2011, we lost vendor
support for our preferred technology, which is based on fixed BWA technology. Vendors instead
preferred to support the mobile BWA technology selected by other operators.
Mobile BWA technology competes with Telkomsel. We therefore returned 4 of the 5
zones, which we had received. We retained our BWA license for Maluku zone so we
would continue to qualify as a BWA operator on 2.3 GHz and have the right to
access the BWA networks maintained by other operators.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Becoming a
wireless broadband access operator is in line with the transformation of our
business to TIMES, which requires us to have infrastructure that is capable of
responding to an increasingly complex market and the demand for ever more
convergent products and services, whether in the consumer, enterprise or
wholesale segments.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">In July 2011, we
are licensed to operate packet switched based on local fixed network by
referring to MoCI Decree No.331/KEP/M.KOMINFO/07/2011 dated July 27, 2011 on
the License of Operating Packet Switched Based Local Fixed Line Network of PT
Telekomunikasi Indonesia Tbk. This license does not have a set expiry date, but
it will be evaluated annually, with a comprehensive evaluation every five years.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Data
Communication System (&#8220;SISKOMDAT&#8221;)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">We provide SISKOMDAT services under DGPI Decree No.169/KEP/DJPPI/KOMINFO/6/2011
dated June 6, 2011 regarding License for Data Communications System Services for PT Telekomunikasi Indonesia
Tbk. This license does not have a set expiry date but
will be thoroughly evaluated every five years.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Payment Method Using e-Money</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Following the implementation of Bank
Indonesia Regulation No.11/11/PBI/2009 and Circular Letter of Bank Indonesia
No.11/10/DASP each dated on May 13, 2009 regarding how to use card-based
payment instruments (&#8220;APMK&#8221;) and Bank Indonesia Regulation No.11/12/PBI/2009
and Circular Letter of Bank Indonesia No.11/11/DASP each dated May 13, 2009 on
e-money, Bank Indonesia has redefined the meaning of &#8220;principal&#8221; and &#8220;acquirer&#8221;
in operating APMK and e-money business. In light of these regulations, Bank
Indonesia confirmed our status as an issuer of e-money based on letter of
Directorate of Accounting and Payment System of Bank Indonesia No.11/13/DASP
dated May 25, 2009. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">We operate our e-money business under
the brand names &#8220;T-cash&#8221;. With the issuance of Bank Indonesia Circular Letter
No.9/9/DASP dated January 19, 2007, Telkomsel is also permitted to conduct APMK
activities, with the launch of Telkomsel </font><i><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Tunai&nbsp;</font></i><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> prepaid card.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">These</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> permit</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> do not have </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a set expiry date</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> or a period of adjustment as long as </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">we&nbsp;</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">
and Telkomsel continue to conduct </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">our
respective</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> business</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">es&nbsp;</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">
and as long as </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">we do not violate
any applicable regulation and</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> as
long as policy makers do not amend or revoke such permit</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Remittance Service</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Based on a license from Bank Indonesia
No.11/23/Bd/8, dated August 5, 2009</font><font face="times new roman" lang=IN style="font-size:10.0pt;"> and No.12/48/DASP/13</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">, we </font><font face="times new roman" lang=IN style="font-size:10.0pt;">and
Telkomsel </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">may
operate as a money transfer services provider.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="times new roman" lang=IN style="font-size:10.0pt;">&#160;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">IPTV</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">On April 27, 2011, we and PT Indonusa
Telemedia, formerly known as TelkomVision, (&#8220;Indonusa&#8221;) as a consortium
obtained a license to operate IPTV services through MoCI Decree
No.MCIT.160/KEP/M.KOMINFO/04/2011 regarding the Telkom and TelkomVision IPTV
Service Consortium Agreement. In accordance with Regulation 15 </font><font face="times new roman" lang=IN style="font-size:10.0pt;">y</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">ear 2014 on
Amendment of MCIT </font><font face="times new roman" lang=IN style="font-size:10.0pt;">Decree&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> No.11/PER/M.KOMINFO/07/2010 regarding
the IPTV, that the IPTV service can be applied nationally.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Construction Services Business License
(&#8220;IUJK&#8221;)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=IN style="font-size:10.0pt;">In 2015, we renewed our Level 5
IUJK that permits us to conduct disaster recovery system construction services,
which is currently valid until June 2018. Our Level 7 IUJK</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> for the
execution of construction services throughout Indonesia</font><font face="times new roman" lang=EN style="font-size:10.0pt;"> expired </font><font face="times new roman" lang=IN style="font-size:10.0pt;">i</font><font face="times new roman" lang=EN style="font-size:10.0pt;">n June
2015, and we </font><font face="times new roman" lang=IN style="font-size:10.0pt;">do
not intend to renew such permit as they are not in line with our areas of </font><font face="times new roman" lang=EN style="font-size:10.0pt;">&#160;expertise
as a provider of telecommunications services.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">Content
Provider Services</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We are in
the process of applying for </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a c</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ontent </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">p</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">rovider </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ervices&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
license</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, currently
in the process of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">internal </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">data gathering which is expected to </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">complete&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
in 2016.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">Trademarks, Copyrights, Industrial Designs and Patents</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;text-transform:uppercase;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:12.0pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We constantly seek to develop product and service
innovations in line with a dynamic business portfolio. To provide both protection
for and recognition of creativity and innovation, we have registered a number
of intellectual property rights, including trademarks, copyrights, industrial
design and patents with the Directorate General of Intellectual Property Rights
at the Ministry of Law and Human Rights. </font></p>

<p style="margin:0in;margin-bottom:12.0pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The intellectual property rights we have registered
include: (i) trademarks for our products and services, corporate logo and name;
(ii) copyrights on our corporate name and logo, product and service logos,
computer programs, research and songs; and (iii) simple and ordinary patents on
technological inventions in the form of telecommunications products, systems
and methods.</font></p>

<p style="margin:0in;margin-bottom:12.0pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The following table lists the trademarks that we have
applied for registration in 2015:</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
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  <td valign=top width=4% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">No</font></b></p>
  </td>
 <td valign=top width=2% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Title</font></b></p>
  </td>
 <td valign=top width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=29% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Application No.</font></b></p>
  </td>
 <td valign=top width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Application Date</font></b></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">1</font></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">IndiHome Store</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
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  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">J002015030929</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">July 15, 2015</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">2</font></p>
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  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
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  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">IndiStore</font></p>
  </td>
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  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">July 15, 2015</font></p>
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  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">100% Fiber</font></p>
  </td>
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  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
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  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">J002015030927</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">July 15, 2015</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">4</font></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Triple Play</font></p>
  </td>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">J002015030930</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=28% style="height:3.5pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">July 15, 2015</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">5</font></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Indihome 100 Mbps</font></p>
  </td>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">J002015030932</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">July 15, 2015</font></p>
  </td>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We
did not</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> submit or register </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">any </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">copyrights&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> or patents in </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2015.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_47"></a><a name="_bclPageBorder47"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">TELECOMMUNICATIONS
INDUSTRY IN INDONESIA</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In
the middle of a domestic economic slowdown, the telecommunications industry </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">in Indonesia </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">recorded </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">healthy&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> growth in 2015, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">that was </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">nearly
double the growth rate of the GDP. This demonstrates that the need for
telecommunication and access to information </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">is&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> increasing
and ha</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> even become part of the basic needs of Indonesian
society, that people are still buying telecommunication services despite the
decrease of purchasing power due to several factors, including the elimination
of fuel subsidies by the end of 2014 and poor commodity prices.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
telecommunications industry, especially the mobile segment, is generally
characterized by a relatively healthy competitive situation with a rational
pricing strategy. It is a combination of industry players who are more focused
on the customer experience and the positive result of industry consolidation
that occurred in the previous period.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
penetration of SIM cards in the cellular industry in Indonesia is quite high, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">at well over 100</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">%, making </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">continued </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">growth in </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">penetration&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> increasingly limited. The mobile industry is
currently dominated by three major players who hold approximately 90% of the
market share. Telkomsel leads over Indosat and XL Axiata, both in terms of
operational and financial parameters. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
shifting trend from legacy services (voice and SMS) to data services is still
rapidly advancing, driven by cheaper prices of smartphones as well as the
rapidly growing youth segment. Data traffic has grown very rapidly, while SMS
service traffic has decreased. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">We
expect that</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> this trend will continue,
given that the smartphone penetration in Indonesia is still relatively low with relatively
low data consumption by smartphone users, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">and that </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">the
growth of the telecommunications industry will be driven by the growth of data
services.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">One
of the main challenges faced by the industry is the increasing use of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">O</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ver </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">T</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">he </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">T</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">op
services that has become a substitute for voice and SMS services, in line with
the growing number of smartphone users. This has happened not only in
Indonesia, but also in developed countries where smartphone penetration is
high. Therefore, telecommunication operators must have an appropriate business
model</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, which may include </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">collaboration with O</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">ver </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">T</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">he </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">T</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">op&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
players</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> in order to properly manage the impact.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">For
the fixed network segment (fixed line), fixed broadband services </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">have been </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">on
the rise throughout 2015, especially in </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">the large</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> cities, marked by the
emergence of several new players. The Indonesian public has begun to realize
the importance of high-quality internet connectivity to houses. Currently, the
penetration of fixed broadband services in Indonesia is still very low and
relatively lower than in some neighboring countries such as Singapore and
Malaysia. Therefore, we </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">expect&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> that the fixed broadband segment will experience
rapid growth in the future, in line with the growth of the middle class in
Indonesia.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In
recent years, data consumption in the mobile segment </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">has </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increased
several-fold, and it is expected that the consumption level per user will
continue to grow rapidly from the current average data consumption per user.
The growth of data consumption needs large capital expenditure in order to
increase capacity and coverage. Nevertheless, some operators have financial
limitations to establish networks due to low levels of profitability. The level
of ARPU in Indonesia is also relatively low compared to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">the&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> global </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">or&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> Asia
Pacific</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> average</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
increasing penetration of smartphones and data consumption has fueled the
growth of digital content and applications. With better mobile data
connectivity, people have began consuming a variety of digital content and
application services beyond social media, such as e-Commerce, digital payment</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> and</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
digital advertising, and it </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">has </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">also </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">led&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> to a variety of innovative applications such as </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Gojek
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">motorcycles taxi and delivery </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">services. This trend is expected to continue and
content consumption </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">is also
expected to</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> lead to game and video
streaming consumption.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">For
the fixed broadband segment, Telkom and PT Link Net Tbk, which is affiliated
with the Lippo Group and operates under the &quot;LinkNet&quot; brand, have a
dominant market share. In other business segments, Telkom has been dominating
connectivity services for corporations and small and medium enterprises (SMEs),
wholesale line rental and leasing of satellite transponders. Within the
telecommunication tower business, Telkom Group has more than 24,000 towers,
comprised of approximately 6,800 towers owned by Mitratel and approximately
17,800 towers owned by Telkomsel, which is larger than the number of towers
that are owned by each of PT Tower Bersama Infrastructure Tbk (&quot;Tower
Bersama&quot;), PT Sarana Menara Nusantara Tbk (Protelindo) and PT Solusi Tunas
Pratama Tbk.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=X-NONE style="font-size:10.0pt;">In the Indonesia Broadband Plan
2014-2019, which was implemented through Presidential Decree Number 96 of 2014,
broadband is defined as internet access with guaranteed nonstop connectivity,
guaranteed durability and information safety as well as triple-play capability
with a minimum speed of 2 Mbps for fixed access and 1 Mbps for mobile access.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=X-NONE style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=X-NONE style="font-size:10.0pt;">The development of national
broadband up to 2019 is targeted by the Government to provide fixed access in
urban areas to 71% of households (20 Mbps) and 30% of the population, as well
as mobile access to the entire population (1 Mbps). For rural areas, access to
fixed broadband infrastructure is targeted by the Government to reach 49% of
households (10 Mbps) and 6% of the population, as well as mobile access to 52%
of the population (1 Mbps). </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=MS style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">COMPETITION</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Measures
following the Telecommunications Law&#8217;s adoption in 2001 moved the Indonesian
telecommunications sector from a duopoly between Indosat and us to one with
multiple competing providers. See &#8220;Others &#8211; Legal Basis and Regulation &#8211;
Introduction of Competition in the Indonesian Telecommunications Industry&#8221;.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Competition
Law</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="times new roman" lang=MS style="font-size:10.0pt;line-height:normal;">The </font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">I</font><font color=windowtext face="times new roman" lang=MS style="font-size:10.0pt;line-height:normal;">ndone</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">s</font><font color=windowtext face="times new roman" lang=MS style="font-size:10.0pt;line-height:normal;">ian telecommunications sector is
regulated by the Telecommunications Law, which became effective on September 8</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font color=windowtext face="times new roman" lang=MS style="font-size:10.0pt;line-height:normal;"> 2000. The Telecommunications Law
sets guidelines for industry reforms, including industry liberalization, to
facilitate new entrants as well as to increase transparency and competition.
The Telecommunications Law abolished the concept of &quot;organizing
entities&quot; in the industry, which terminated the special status of Telkom
and Indosat as the organizing body who is responsible for coordinating
telecommunication services domestically and internationally. In order to
increase competition, the Telecommunications Law prohibits monopolistic
practices and unfair competition among fellow telecommunication operators.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="times new roman" lang=MS style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="times new roman" lang=MS style="font-size:10.0pt;line-height:normal;">The Telecommunications Law is implemented through </font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">various </font><font color=windowtext face="times new roman" lang=MS style="font-size:10.0pt;line-height:normal;">of
Government </font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">r</font><font color=windowtext face="times new roman" lang=MS style="font-size:10.0pt;line-height:normal;">egulations and </font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">m</font><font color=windowtext face="times new roman" lang=MS style="font-size:10.0pt;line-height:normal;">inisterial </font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">r</font><font color=windowtext face="times new roman" lang=MS style="font-size:10.0pt;line-height:normal;">egulations, including Government Regulation No.52/2000 on
Telecommunications, Decree of the Minister of Communication and Informatics
No.1/PER/M.KOMINFO/01/2010 dated&#160; January 25</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">,
</font><font color=windowtext face="times new roman" lang=MS style="font-size:10.0pt;line-height:normal;">2010 on Provision of Telecommunication Networks, Decree of
the Minister of Transport No.33/2004 on the Monitoring of Fair Competition of
the Fixed Network and Basic Telephone Service Operations and Decree of the
Minister of Transportation No.KM.4/2001 dated&#160; January 16</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">,
</font><font color=windowtext face="times new roman" lang=MS style="font-size:10.0pt;line-height:normal;">2001 on the National Basic Technical Plan 2000 for the
National Telecommunications Development (&quot;National Technical
Telecommunications Plan&quot;). The National Technical Telecommunications Plan
has been amended several times, most recently is the Decree of the Minister of
Communication and Informatics No.09/PER/M.KOMINFO/06/2010 dated&#160; June 9</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">, </font><font color=windowtext face="times new roman" lang=MS style="font-size:10.0pt;line-height:normal;">2010. Along with the
Telecommunications Law, National Technical Telecommunications Plan determines
the basic vision for the development of Indonesia&#8217;s telecommunications
regulator.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=MS style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=MS style="font-size:10.0pt;">The government is currently encouraging healthy competition and
transparency in the telecommunications sector, even though the government does
not prevent operators from obtaining and increasing its dominance in the market
through specific regulations. Nevertheless, the government prohibits market
leading operators from abusing its dominant position.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Competition
in the telecommunications sector, like all Indonesian business sectors, is also
governed more generally by Law No.5/1999 dated March 5, 1999 regarding
Prohibition of Monopolistic Practice and Unfair Business Competition
(&#8220;Competition Law&#8221;). The Competition Law bans agreements and activities tending
toward unfair business competition, as well as the abuse of a dominant market
position. Pursuant to the Competition Law, the KPPU </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">was&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> established
as Indonesia&#8217;s antitrust regulator with the authority to enforce the provisions
of the Competition Law. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
Competition Law is implemented by various regulations, including Government
Regulation No.57/2010 dated July 20, 2010 regarding Mergers and Acquisitions
Potentially Causing Monopolistic Practices or Unfair Business Practices.
Government Regulation No.57/2010 permits voluntary consultation with the KPPU
prior to a merger or acquisition, which will result in the KPPU issuing a
non-binding opinion. Government Regulation No.57/2010 also requires that a
mandatory report be made to the KPPU after a merger or acquisition is completed
if the transaction exceeds certain asset or sales value thresholds.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Fixed
Services</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Our
exclusive right to provide domestic fixed line telecommunications services in
Indonesia ended following the Telecommunications Law&#8217;s implementation in 2000.
At that time, the MoC issued licenses to Indosat for domestic fixed line
services in August 2002 and for DLD telephone services in May 2004. We entered
into an interconnection agreement with Indosat dated September 23, 2005 to
allow interconnection between our local fixed line services in Jakarta, Surabaya,
Batam, Medan, Balikpapan, Denpasar and certain other areas. By 2006, Indosat
was able to provide nationwide DLD services through its CDMA-based fixed
wireless network, its fixed line network and the interconnection arrangement
with us. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We
also compete against other major fixed broadband service providers such as
First Media and PT Supra Primatama Nusantara (BizNet Networks) as well as new
providers such as PT&nbsp;Media Nusantara Citra and PT Eka Mas Republik (an
affiliate of Smartfren Telecom which operates under the &quot;MyRepublic&quot;
brand).</font></p>

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Cellular</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We operate our cellular service business through our
65% majority-owned subsidiary, Telkomsel. By subscriber numbers, Indonesia&#8217;s
cellular market is dominated by Telkomsel, Indosat, Hutchison and XL Axiata,
which collectively accounted for approximately </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">97</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">% of the
full-mobility cellular market of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2015</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">. Other
providers include Smartfren Telecom.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">There were approximately </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">340&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">million </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">mobile&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> cellular subscribers in Indonesia as of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2015</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, a </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">6.3</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">% </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase from
approximately </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">320&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;"> </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">million
as of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2014. </font><font face="Times New Roman" lang=MS style="font-size:10.0pt;">The relatively high penetration of the mobile
market </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">causes </font><font face="Times New Roman" lang=MS style="font-size:10.0pt;">continued
growth in penetration increasingly limited, with the number of SIM card, user</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face="Times New Roman" lang=MS style="font-size:10.0pt;">
reaching saturation level.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">As of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2015</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,
Telkomsel remained the largest national licensed provider of cellular services
in Indonesia, with approximately </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">152.6&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.15pt;line-height:normal;"> </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">million cellular subscribers and a market share of approximately </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">47</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;line-height:normal;">% </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">of the cellular
market</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;line-height:normal;"> </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">based on the estimated number of
subscribers. The next largest providers were Indosat, Hutchison and XL </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">A</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">xiata,
which have a market share of approximately </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">21</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;line-height:normal;">%, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.15pt;line-height:normal;">16</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;line-height:normal;">% </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">13</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">% respectively, based on the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">estimated&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> number
of subscribers as of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2015</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. Hutchison also provides cellular services in Indonesia
and has been allocated 20 MHz of frequency spectrum</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In addition to
the nationwide GSM operators, a number of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">smaller&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> regional
GSM, analog and CDMA fixed wireless providers operate in Indonesia</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">The following table sets
  out information as of December 31, 2015 for each of three leading cellular
  providers with national coverage:</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=top width=51% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:10.0pt;"> <sup> </sup></font></b></p>
  </td>
 <td colspan=5 valign=bottom width=48% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Operator</font></b></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=51% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;"> <sup> </sup></font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Telkomsel</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Indosat</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">XL Axiata</font></b></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=51% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Launch date<sup> </sup></font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">May - 1995</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">Nov - 1994</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">Oct - 1996</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=51% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">2G and 4G licensed
  frequency bandwidth (GSM 900 MHz)<sup> </sup></font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">15 MHz<sup>**</sup></font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">10 MHz</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">7.5 MHz</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=51% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">2G</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">,&nbsp;</font><font face="Times New Roman" style="font-size:10.0pt;"> 3G and/or 4G
  licensed frequency bandwidth (GSM 1.8 GHz)<sup> </sup></font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">22.5 MHz</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">20 MHz</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">22.5 MHz</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=51% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">3G licensed frequency
  bandwidth (2.1 GHz)<sup> </sup></font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">15 MHz</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">10 MHz</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">15 MHz</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=51% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Market share<sup>*</sup></font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">47%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">21 %</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">13%</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=51% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Subscribers<sup>*</sup></font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">152.6 million</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">71.0 million</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">42.0 million</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=7 valign=bottom width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">(*) Internal estimate, dated
  December 31, 2015 based on various statistics compiled by us.</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=7 valign=bottom width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">(**) Includes 7.5Mhz which was reallocated to
  Telkomsel for some areas outside Java in the first quarter of 2015, with the
  remaining areas in Indonesia expected to be reallocated by the end of 2016,
  in connection with the termination of our fixed wireless business</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">International Direct Dialing (IDD)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We compete in traditional IDD services (non-VoIP) in Indonesia
primarily with Indosat. However, in line with development of digital
technology, our IDD also faces competition with VoIP and other internet-based
voice services like Skype and Google Talk.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Voice
over Internet Protocol (VoIP)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We
formally launched our voice service through VoIP technology in September 2002.
VoIP uses data communications to transfer voice traffic over the internet,
which usually provides substantial cost savings to subscribers. A number of
other companies, including XL Axiata, Indosat, Atlasat Solusindo Pte</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> Ltd.,
PT Gaharu Sejahtera, PT Satria Widya Prima, PT Primedia Armoekadata Internet
and PT Jasnita Telekomindo also provide licensed VoIP services in Indonesia.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We
currently offer our primary VoIP service &#8220;Telkom Global-01017&#8221; and the
lower-cost alternative &#8220;Telkom Save&#8221;. Telkom Save offers discounted rates for certain countries to
which there is heavy traffic from Indonesia while offering regular VoIP tariff
rates for other countries. In addition to other VoIP operators, we also compete
with internet-based voice services likes Skype and Google Talk. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Satellite </font></b></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">The Asia-Pacific region and especially Southeast Asia
continues to need satellites for both telecommunications and broadcasting
infrastructure</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">, due to the characteristics of the region as an archipelago</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">. </font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">The capabilities provided by satellites include</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;"> cellular backhaul</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">, </font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">broadband
backhaul</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">, </font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">enterprise network</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">,
</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">OUTV (Occasional Usage TV)</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">, </font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">military
and government network</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">, </font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">video distribution, DTH television</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">,
</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">flight </font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">c</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">ommunication&nbsp;</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">
and </font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">disaster recovery.</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:6.0pt;letter-spacing:.1pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">We compete with a number of other satellite operators with
satellites covering Southeast Asia, and several operators are in the process of
developing satellites withcoverage of Southeast Asia. However, we believe that
demand for satellite transponder capacity still exceeds current supply. In view
of the market opportunities, limited supply and our own requirements, we are
currently in the process of developing the Telkom-3S satellite, which is
currently planned for launch in late 2016, and the Telkom-4 satellite, which is
currently planned for launch around the end of 2017. We expect that Telkom-3S
will replace Telkom-2 and Telkom-4, which will also have coverage to India,
will replace Telkom-1.</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:6.0pt;letter-spacing:.1pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Tower</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">As
of December 31, 2015, through our subsidiary, Mitratel, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">w</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">e operate</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">6,800 telecommunication
towers located throughout Indonesia. We lease out space to other operators to
place their telecommunications equipment on these towers, for which we receive
a fee. Most </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">of the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">towers owned by Telkomsel </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">are </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">also leased
to other operators. Our principal competitors in </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">tower business are Tower Bersama , PT Sarana Menara
Nusantara Tbk (Protelindo), PT Solusi Tunas Pratama Tbk as well as other telecommunications
operators that have and lease space on towers. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Others</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">The dynamic
development of the telecommunications sector has opened up new opportunities,
particularly with the increasing growth of the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">O</font><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">ver </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">T</font><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">he
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">T</font><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">op services which provide a substitute service to
basic telecommunications services such as voice and SMS. Some </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">O</font><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">ver
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">T</font><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">he </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">T</font><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">op service providers are quite popular,
including Whats</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">A</font><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">pp, Facebook, Line, and many others. The
presence of these </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">O</font><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">ver </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">T</font><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">he </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">T</font><font face="Times New Roman" lang=MS style="font-size:10.0pt;line-height:normal;">op
services has affected the use of legacy services, particularly SMS, which has
resulted in traffic falling in recent years.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Legal Basis and Regulation</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The framework for the telecommunications industry is
comprised of specific laws, government regulations, ministerial regulations and
ministerial decrees enacted and issued from time to time. The current
telecommunications policy was first formulated and articulated in the
Government&#8217;s &#8220;Blueprint of the Indonesian Government&#8217;s Policy on
Telecommunications&#8221;, contained in MoC Decree No.KM.72/1999 dated September 17,
1999</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">1.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Telecommunications Law</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The telecommunications sector is primarily governed by
Law No.36 of 1999 (&#8220;Telecommunications Law&#8221;), which became effective on
September 8, 2000. The Telecommunications Law sets guidelines for industry
reforms, including industry liberalization, facilitation of new entrants and
enhanced transparency and competition.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The Telecommunications Law eliminated the concept of
&#8220;organizing entities&#8221; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">thereby </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ending </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">our
and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Indosat&#8217;s responsibility for
coordinating domestic and international telecommunications services,
respectively. To enhance competition, the Telecommunications Law prohibits
monopolistic practices and unfair competition among telecommunications
operators.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The Telecommunications Law </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">was&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> implemented
through several Government Regulations, Ministerial Regulations and Ministerial
Decree</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">. The most important of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">such&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> regulations
include:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Government Regulation No.52/2000
regarding Telecommunications Services</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">MoCI Regulation
No.1/PER/M.KOMINFO/01/2010 dated January 25, 2010 regarding Operation of
Telecommunications Networks</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">MoC&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> Decree No.KM.21/2001 regarding the Provision of
Telecommunications Services that was most recently amended </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">by&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> MoCI
Regulation No.</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">8/2015&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> regarding the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Fourth </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Amendment of Decree of the
Minister of Communication No.KM.21/2001 regarding the Provision of
Telecommunications Services</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">MoC Decree No.33/2004 regarding
Supervision of Healthy Competition in the Provision of Fixed Network and Basic
Telephony Services</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">MoC Decree No.KM.4/2001 dated January
16, 2001 regarding the Determination of Fundamental Technical Plan National
2000 for National Telecommunications Development most recently amended by MoCI
Regulation No.</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">17</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">/201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> dated June </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">4</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> regarding the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">seven</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">th
amendment of MoC Decree No.KM.4/2001 regarding the Determination of Fundamental
Technical Plan National 2000 for National Telecommunications Development. </font></p>

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">2.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Telecommunications
Regulators</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In February 2005, the authority to regulate the
telecommunications industry was transferred from the MoC to a newly-established
Ministry, the MoCI. Pursuant to
authorities assigned to him</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> under
the</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> Telecommunication Law, the Minister
of Communication and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Information&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> sets policies, regulates, supervises and controls </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">telecommunications
industry in Indonesia. On October 28, 2010, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">the MoCI engaged in certain organizational and
administrative reforms that included transferring </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">licensing and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">regulatory authority</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> to two newly
established general directorates, the Directorate General of Posts and
Informatics Resources and Equipment (&#8220;DGRE&#8221;) and Directorate General of Post
and Informatics Operations (&#8220;DGPIO&#8221;) </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">pursuant to </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">MoCI Regulation
No.17/PER/M.KOMINFO/10/2010 regarding the Organization and Administration of
Ministry of Communication and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Information</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">. Following the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">reforms</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">certain&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
adjustments were made through MoCI Regulation No.15/PER/M.KOMINFO/06/2011 dated
June 20, 2011 regarding title adjustments in a number of Decrees and/or MoCI
regulations that regulate Special Materials in Post and Telecommunications
and/or in Decrees of the Director General of Posts and Telecommunications,
which transfer all substances related to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">post</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">al&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> and
telecommunications sector</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> to the DGPIO including licensing, numbering, interconnection,
universal service obligation</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> and</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> business competition. Meanwhile, matters related to
radio frequency spectrum and standardization of telecommunications equipment
were transferred to the DGRE.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Following the enactment of the Telecommunications Law,
the MoC established an independent regulatory body as stipulated in MoC Decree
No.KM.31/2003 dated July 11, 2003 regarding the Establishment of the ITRA which
was later revoked </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">by&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> MoC Regulation No.KM.36/PER/M.KOMINFO/10/2008 dated
October 31, 2008 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">and&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> amended </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">by&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> MoCI Regulation No.1/PER/M.KOMINFO/02/2011 dated
February 7, 2011 (&#8220;MoCI Regulation No.36/2008&#8221;). Pursuant to MoCI Regulation
No.36/2008, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ITRA </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">was&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> assigned the authority to regulate the Indonesian
telecommunication industry</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">,
including the provision of telecommunication networks and services. The </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ITRA which is chaired by the Director General of Post
and Informatics Operations and comprise</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">of nine members</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, including</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
six </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">members of the public, and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">three members selected from Government institutions
(DGRE and Director of DGPIO and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">a&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> government representative appointed by the Minister
of Communication and Information). </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">3.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Classification and
Licensing of Telecommunications Providers</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">The </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Telecommunications
Law organize</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> telecommunication</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> services</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> into </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">following </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">three
categories:</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> (i) provision</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> of telecommunication network</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s, (ii) provision</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
of telecommunication services</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">(iii)
provision</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> of special telecommunications</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> services</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.
&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Licenses issued by MoCI are required for each category
of telecommunications services. MoCI Regulation No.1/2010 and MoC Decree
No.KM.21/2001 dated May 31, 2001 regarding the Operation of Telecommunications
Services, as last amended by MoCI Regulation No.8/2015 regarding the Fourth
Amendment of Decree of the Minister of Communication No.KM.21/2001 regarding
the Provision of Telecommunications Service, are the principal implementing
regulations governing licensing.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">MoCI Regulation No.1/2010 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">classified&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
network operations into fixed and mobile networks. MoC Decree No.KM.21/2001 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">categorized&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
the provision of services into basic telephony services, value-added telephony
services, and multimedia services. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">4.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Introduction of Competition
in the Indonesian Telecommunications Industry</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In 1995, we were granted a monopoly to provide local
fixed line telecommunications services until December 31, 2010, and DLD
services until December 31, 2005. Indosat and Satelindo (which subsequently
merged with Indosat) were granted a duopoly for provision of basic
international telecommunications services until 2004.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">As a consequence of the Telecommunications Law, the
Government terminated our exclusive rights
to provide </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">domestic&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> fixed
line </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">telephone&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> and DLD services and Indosat</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&#8217;s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> and Satelindo</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&#8217;s duopoly rights </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">to provide basic international </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">telephone&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> services.
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Instead</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, the Government adopted a duopoly policy to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">create </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">competition
between Indosat and us as comprehensive service and network provider</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">. &nbsp;</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">5.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">DLD Services </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">To liberalize DLD services, the Government amended the
National Telecommunications Technical Plan pursuant to MoCI Decree
No.6/P/M.KOMINFO/5/2005 dated May 17, 2005 (&#8220;MoCI Decree No.6/2005&#8221;) to assign
each provider of DLD services a three-digit access code that would permit their
customers to select an alternative DLD services provider by dialing the
three-digit access number. MoCI Decree No.6/2005 did not provide for immediate
implementation of the three-digit system for DLD calls, but as the first DLD
service provider, we were required to gradually open our network to the
three-digit access codes in all coded areas throughout Indonesia by April 1,
2010. We were assigned the &#8220;017&#8221; DLD access code, while Indosat was assigned
&#8220;011&#8221;. The MoCI thereafter amended the National Telecommunications Plan as provided
in MoCI Decree No.43/P/M.KOMINFO/12/2007 dated December 3, 2007, (&#8220;MoCI Decree
No.43/2007&#8221;), which delayed the deadline for the implementation of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">three </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">digit
access code for DLD calls throughout all the area code in Indonesia until
September 27, 2011.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Pursuant to MoCI Decree No.43/2007, we opened our
network to the &#8220;01X&#8221; three-digit DLD access service in Balikpapan by April 3,
2008. Since </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">that&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> date, our customers </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">are able </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">to make
DLD calls from Balikpapan by first dialing </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Indosat&#8217;s </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#8220;011&#8221;.
As stipulated in MoCI Regulation No.43/2007, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">we have</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> provided
a nation-wide network for three-digit access code for fixed and fixed wireless
DLD with &#8220;01X&#8221; that can be used by Indosat </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">or&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> other
licensed operator starting September 27, 2011. To date, no other licensed operator</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s have submitted</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> a request to us to connect their networks </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">enable DLD
access. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">6.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">IDD Services</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We received our IDD license in May 2004 and began
offering IDD fixed line services to customers in June 2004 using the &#8220;007&#8221; IDD
access code. The Indosat IDD access code is &#8220;001&#8221;. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Our </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">December
2005 interconnection agreement with Indosat enables Indosat&#8217;s network customers
to access our IDD services by dialing &#8220;007&#8221; and our network customers to access
Indosat&#8217;s IDD services by dialing &#8220;001&#8221;.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">7.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Cellular&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Cellular telephone service is provided in Indonesia on
the radio frequency spectrum of 1.8 GHz (DCS technology), 2.1 GHz (UMTS
technology) and 900 MHz (GSM and UMTS technology). The MoCI regulates the use
and allocation of the radio frequency spectrum for mobile cellular networks.
Telkomsel has obtained frequency allocation for cellular services on the 900
MHz, 1.8 GHz and 2.1 GHz frequency bands. The allocation of bandwidth in the
2.1 GHz frequency spectrum is regulated by</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">:&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">-&#160;&#160;&#160;&#160;&#160;&#160; MoCI Decree
No.19/KEP/M.KOMINFO/2/2006 dated February 14, 2006 regarding the Determination
of Winner of IMT-2000 Mobile Cellular Operator Selection at 2.1 GHz Radio
Frequency Band.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">-&#160;&#160;&#160;&#160;&#160;&#160; MoCI Decree
No.268/KEP/M.KOMINFO/9/2009 regarding the Determination of Additional
Allocation of Radio Frequency Bandwidth Blocks, Tariffs, and Payment Scheme
Radio Frequency Spectrum Right of Usage Fees for IMT-2000 Moble Cellular
Operators at 2.1 GHz Radio Frequency Band. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">MoCI Decree No.191 Year
2013 regarding the Determination of PT Telekomunikasi Selular as Winner in the
Selection of Users of Additional Frequency Bandwidth at 2.1 GHz Radio Frequency
Band for IMT-2000 Mob</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">i</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">le Cellular Operators.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">8.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Interconnection &nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">The</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
Telecommunications Law </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">expressly
prohibits</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> monopolistic and unfair
business </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">practices and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">requires network providers to allow users to access </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">other </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">users
or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">obtain </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">services </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">from&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> other networks by paying </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">interconnection </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">fees
agreed upon by each network operator. Government Regulation No.52/2000 dated
July 11, 2000 regarding Telecommunications Operations provides that
interconnection charges between two or more network operators must be
transparent, mutually agreed </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">upon&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> and fair. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">On February 8, 2006, the MoCI issued Regulation
No.8/PER/M.KOMINFO/02/2006 on Interconnection (&#8220;MoCI Regulation No.8/2006&#8221;), </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">which </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">mandated
a cost-based interconnection tariff scheme for all network and services
operators </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">and replaced </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">previous
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">revenue-sharing scheme. Under the new
scheme</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, interconnection charges
are determined by the network </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">operator on
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">which a call terminates based on
a </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">long-run incremental cost</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> formula</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">MoCI Regulation No.8/2006 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">require&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
operators</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> to</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> submit to the ITRA annual RIO proposals containing
proposed interconnection tariffs for the coming year. Operators are required to
use the cost-based methodology in preparing RIO proposals, and the ITRA and
MoCI are required to use the same methodology in evaluating the RIO proposals
and approving interconnection tariffs.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Pursuant to MoCI Regulation No.8/2006 and ITRA Letter
No.246/BRTI/VIII/2007 dated August 6, 2007, we submitted a RIO proposal to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ITRA
in October 2007, which covered adjustments for operational, configuration,
technical and service offerings. In December 2007, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">we and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">all </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">other </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">network
operators signed new interconnection agreements </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">that super</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">se</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">ded pr</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">e</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">vious&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
interconnection agreements between </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">us
and other </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">network operators</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> which also amended</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> all interconnection agreements signed in December
2006.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">On February 5, 2008, the ITRA required that we and
other operators begin implementing the cost-based interconnection tariff regime.
On April 11, 2008, pursuant to DGPT Decree No.205/2008, the ITRA and the MoCI
approved RIO </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">proposals </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">from all operators to replace previous interconnection
agreements. The RIO approved in 2008 was </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">effective&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> until July 29, 2011
when </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">new </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">interconnection charges </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">were implemented</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
as stipulated </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">in </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ITRA Letter No.227/BRTI/XII/2010 dated December 31,
2010 regarding the Implementation of Interconnection Charges in 2011. This was
the result of interconnection charges recalculation conducted in 2010 by MoCI
that was agreed on by all operators and outlined in a Memorandum of
Understanding. The results of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">this&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> interconnection charges </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">reform&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> caused a </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">slight </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">decrease
in interconnection costs</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">On December 12, 2011, the ITRA changed the SMS
interconnection fee basis from a &#8220;Sender Keep All&#8221; basis to a cost basis
interconnection fee calculation which required certain amendments to RIOs
agreed upon in 2011. MoCI Regulation No.8/2006 stipulates that the RIO of
telecommunications network operators generating operating revenue that is equal
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">to </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">or more than 25% of the combined revenues of all telecommunication
operators that serve the same respective segment, must obtain ITRA&#8217;s approval,
necessitating changes in </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">our&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> and Telkomsel</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&#8217;s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> RIOs which were approved on
June 20, 2012. </font><font color=black face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;">ITRB in its letters
No.60/BRTI/III/2014 dated March 10, 2014 and No.125/BRTI/IV/2014 dated April
24, 2014 approved Telkomsel and our Company&#8217;s revision of RIO regarding the
interconnection tariff. Based on the letter, ITRB also approved the changes to
the SMS interconnection tariff to Rp24 per SMS.</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> As of the date of this
Annual Report</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, no recalculation of
interconnection fees for 201</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">4&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> had been done as doing so would have been
preceded by an evaluation on interconnection charges in 201</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">3</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">9.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">VoIP&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In January 2007, the Government implemented new
interconnection regulations and a five-digit access code system for VoIP
services pursuant to MoCI Decree No.06/P/M.KOMINFO/5/2005. Under the Decree,
the prefix for VoIP, which was originally 01X, was changed to 010XY. On April
27, 2011, the MoCI issued Regulation No.14/PER/M.KOMINFO/04/2011, as partly
revoked by MoCI Regulation No.11 of 2014</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">which imposed quality control
standards</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> in relation to VoIP
services and this became </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">effective three
months thereafter, to which we and other operators must adhere </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">to</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">10.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">IPTV&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:4.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Several provisions in the MoCI Regulation
No.11/PER/M.KOMINFO/07/2010 (&#8220;MoCI Regulation No.11/2010&#8221;) regarding the
Implementation of Internet Protocol Television (IPTV) Service has been amended
by Regulation No.15/2014 regarding the Implementation of Internet Protocol
Television (IPTV) Service that became the legal basis for the IPTV licensing
and regulates the provision of IPTV services, including the rights and
obligations of IPTV providers, technical standards, foreign ownership
requirements and the use of domestic independent content providers.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">MoCI Regulation No.11/2010 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">recognizes </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">IPTV </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">as&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> a
convergence of telecommunications, broadcasting, multimedia and electronic
transactions a</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">nd provides that
only a </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">consortium comprising at least two
Indonesian entities may be licensed as an IPTV provider. Referring to
MOCI Regulation No.15/2014, the licenses that we needed, among others:
(a) local fixed network license, mobile network or fixed closed network license</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> (b)
operating internet access/ISP license</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">and (c) broadcasting operation
of subscription
television broadcasting services institution license.</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Government Regulation No.52/2005 regarding the
Broadcasting Implementation of the Broadcasting Subscription Institute
(&quot;LPB&quot;) provides that broadcasting could be conducted using
satellite, cable and terrestrial transmitter. Broadcasting using satellite
could have a nationwide range, while cable and terrestrial transmitter have a
range of a particular region. On April 27, 2011 we and Indonusa as a consortium
obtain a license to operate IPTV services through MoCl Decree No.MCIT.160 KEP
M.KOMINFO 04.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">11.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Satellite &nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:4.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Our international satellite business is highly
regulated. In addition to being subject to domestic licensing requirements and
regulation for the use of orbital slots and radio frequencies</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, as stipulated in MoCI Regulation, our
satellite operations is also regulated by the Radio Communications Bureau of
the International Telecommunications Union.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Furthermore, MoCI Regulation No.37/2006 dated December
6, 2006 requires foreign satellite operators to obtain a landing right license to
operate in Indonesia which requires such foreign satellite operators to
coordinate with domestic satellite operators, including us, to ensure that no
Indonesian satellite and terrestrial systems will be disrupted by their
operation.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">12.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Consumer Protection</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:4.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Under the Telecommunications Law, each </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">network provider is required to protect</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> consumer </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">rights&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> in relation to</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, among others,</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> quality of
services, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">tariffs and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">compensation. Customers injured or damaged by
negligent operations may file claims against negligent providers. Telecommunications
consumer protection regulations provide service standards for telecommunication
operators. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">13.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">USO &nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">All telecommunications operators, whether network or
service providers, are bound by a</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">n&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> USO </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">regulation
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">that requires them to contribute to providing
telecommunication facilities and infrastructure in the interest of opening
equal access to telecommunications throughout all regions in Indonesia, which
is generally done by way of financial contribution. MoCI Decree No.32/PER/M.KOMINFO/10/2008
dated October 1</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">0</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, 2008 regarding the USO (as amended by MoCI Decree No.03/PER/M.KOMINFO/02/2010
dated February 1, 2010) (&#8220;MoCI Regulation No.32/2008&#8221;) stipulated</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, among others,</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> in providing telecommunication access and services in rural areas (USO
Program), the provider is determined through a selection process by Balai
Telekomunikasi dan Informatika Pedesaan (&#8220;BTIP&#8221;) which was established based on
MoCI Decree No.35/PER/M.KOMINFO/11/2006 dated November 30, 2006. Subsequently,
based on Decree No.18/PER/M.KOMINFO/11/2010 dated November 19, 2010 of MoCI,
BTIP was changed to Balai Penyedia dan Pengelola Pembiayaan Telekomunikasi dan
Informatika (&quot;BPPPTI&quot;). </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">USO payment requirements are calculated as a
percentage of our and Telkomsel&#8217;s unconsolidated gross revenues, net of bad
debts and/or
interconnection charges and/or connection charges. Pursuant to Government Decree
No.7/2009 dated January 16, 2009, regarding Tariffs for Non-Tax State Revenue
that apply to the Ministry of Communication and Information (&#8220;GR No.7/2009&#8221;)
and Decree No.05/PER/M.KOMINFO/2/2007 dated February 28, 2007, the current USO
tariff rate is 1.25% of gross revenue, net of bad debts and/or interconnection
charges and/or connection charges. Subsequently, in December 2012, Decree
No.05/PER/M.KOMINFO/2/2007 was replaced by Decree No.45 year 2012 of the MoCI
which was effective from January 22, 2013</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.
The </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">latest </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Decree </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">stipulates,
among other things, the exclusion of certain revenues that are not considered
as part of gross revenues as a basis to calculate the USO charged, and
changes to the payment period which was previously on a quarterly basis to become
quarterly or semi-annually.</font></p>

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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">14.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Telecommunication
Regulatory Charges</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">On January 16, 2009, the Government issued Government
Regulation No.7/2009, which sets the types of non-tax state revenues that apply
to the MoCI derived from various services, including telecommunications. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:.25in;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">On December 15, 2010, the Government issued Government
Regulation No.76/2010 amending Government Regulation No.7/2009. Pursuant to
Government Regulation No.76/2010, we are no longer required to pay right-of-use
fees calculated with reference to the BTSs that we deploy in our network,
except for BTSs deployed in our backbone, with effect from December 15, 2010.
As a result, our right-of-use fees are now calculated based on the bandwidth of
the radio frequency spectrum that we use.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In addition to radio frequency spectrum right-of-use
fees, Government Regulation No.7/2009 as amended by
Government Regulation No.76/2010 requires all telecommunications operators to
pay an annual license fee for telecommunication operation, which is equal to
0.5% of unconsolidated gross revenues, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">net of bad debts and/or interconnection charges and/or connection
charges</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Pursuant to Law No.28/2009 regarding Local Taxes and
Local Fees, local governments are permitted to impose fees on the sites that we
use for telecommunications towers. The fees may not exceed 2% of the site&#8217;s
assessed tax value. Currently, there are some 525 local (provincial and regency
level) </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">governments </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">through out </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Indonesia&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> that may be authorized
to impose these fees to increase in the future. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">15.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Telecommunications Towers</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">On March 17, 2008, the MoCI issued MoCI Regulation
No.02/PER/M.KOMINFO/3/2008 regarding Guidelines on Construction and Utilization
of Sharing Telecommunication Towers (&#8220;MoCI Regulation No.02/2008&#8221;). Under MoCI
Regulation No.02/2008, the construction of telecommunications towers requires
permits from the relevant governmental institution, while the local government
determines the placement and locations at which telecommunications towers may
be constructed. In addition, telecommunications providers that own
telecommunication towers and other tower owners are obligated to allow other
telecommunication operators to utilize their telecommunication towers without
any discrimination, with due regards to the technical capacity of the
respective tower.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Since the operations of telecommunication towers
involves a number of relevant Government bodies, on March 30, 2009, a joint
regulation </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">was&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> issued in the form of Minister of Home Affairs
Regulation No.18/2009, Minister of Public Works Regulation No.07/PRT/M/2009,
MoCI Regulation No.19/PER.M.KOMINFO/03/2009 and Head of the Investment Coordinating
Board Regulation No.3/P/2009 regarding Guidelines for the Construction and
Shared Use of Telecommunications Towers (&#8220;Joint Decree&#8221;). </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The Joint Decree regulates that license for
telecommunication tower construction is to be issued by regents or mayors, and
for Jakarta Province, its Governor. The Joint Decree also provides for tower
construction standards and requires that telecommunications towers be made
generally available for shared use by telecommunications service providers. The
owner of a telecommunications tower is allowed to collect a fee, which is
negotiated with reference to costs associated with investment and operational
costs, the return of investment and a profit. Monopolistic practices in the
ownership and management of telecommunications towers is prohibited. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">16.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Content Provider
Service</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Content provider service is
regulated by the Ministry of Communication and Information through Regulation
No.21/2013 on the Management of Content Provider Services on Cellular Mobile
Networks and Wireless Local Static Networks with Limited Mobility, as amended
by the Ministry of Communication and Information Regulation No.6/2015 of 6
February 2015.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">C.&#160;&#160;&#160; ORGANIZATIONAL
STRUCTURE</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Information on Our Organizational
Structure</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In order to
synchronize our organizational structure with our business character as well as
with the dynamic business challenges we faced in 2015, we revised our
organizational structure to achieve structure alignment with our business portfolios.
Our revised organizational structure reflects our organizational management
categorized by product/business portfolio (encompassing digital products and
legacy product), customer portfolio (encompassing the consumer, enterprise,
wholesale and international segments), function and/or territory.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The following
diagram sets forth our internal organizational structure as of December 31,
2015.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><img border=0 height=418 id="Object2" src="x16040122311000.gif" width=624>&nbsp;</p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The following table
sets forth the functions and authority of our directorates.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:5.0pt;line-height:normal;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=times-roman style="font-size:9.0pt;">Directorate</font></b></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=81% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=times-roman style="font-size:9.0pt;">Function and Authority</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Consumer Service Directorate </font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=81% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Focuses on the management of consumer product
  planning, consumer relationship management, consumer marketing and sales, and
  consumer service supervision, as well as the control of operational
  territories in all seven </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Telkom
  </font><font face="Times New Roman" style="font-size:9.0pt;">Regional </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Offices</font><font face="Times New Roman" style="font-size:9.0pt;">.&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Enterprise and Business Service Directorate </font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=81% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Focuses on the management of enterprise planning
  strategy, enterprise business development, enterprise parenting operation,
  enterprise performance integration, as well as the management of the
  Enterprise Services Division, the Business Services Division and the
  Government Services Division. The Director of Enterprise and Business Service also
  performs the function of the Chief Operating Officer.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Wholesale and International Services Directorate </font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=81% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Focuses on the management of the wholesale and
  international business segment, as well as the operational control of the
  wholesale services division.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Directorate of Innovation and Strategic Portfolio </font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=81% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Focuses on the management of corporate strategic
  planning, the Strategic Investment Department, the Synergy Department,
  innovation strategy and the control of operational units under such
  Directorate, namely the Digital Service Division.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Directorate of Network, I</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">nformation </font><font face="Times New Roman" style="font-size:9.0pt;">T</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">echnology and</font><font face="Times New Roman" style="font-size:9.0pt;"> Solution </font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=81% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Focuses on the management of infrastructure and
  infrastructure strategy and governance, IT strategy and governance, solutions and
  infrastructure management as well as control of the operational units under
  such Directorate through the Planning and Deployment Division, Service and
  Solution Divisions, Service Operation Division, and Information System
  Center.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Finance Directorate </font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=81% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Focuses on the management of finances, namely
  corporate finance, management accounting, investor relations, financial and
  logistics policy, risk and process management, and the centralization of
  financial operations through the finance, billing and collection center
  units, as well as the operational control of the supply center unit
  responsible for procurements.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Human Capital Management Directorate</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=81% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Focuses on the management of human resources, in
  terms of human capital strategic management, human capital development,
  human capital organizational effectiveness and the centralized operationali</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">z</font><font face="Times New Roman" style="font-size:9.0pt;">ation
  of human resources through the Human Capital Business Partner Center, as well
  as the operational control of the Telkom Corporate University Center unit,
  the Indonesia Assessment Center and the Community Development Center.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">We have
adopted a holding company approach to the management of our Group, which we
believe will provide productive flexibility throughout our business entities in
accordance with the characteristics of each unit.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:5.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">In the
framework of the implementation of corporate management with holding company
characteristics, then:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=EN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">The role of corporate office is focused on
Corporate Level Strategy (directing strategy, portfolio strategy and parenting
strategy).</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">2.</font><font face="times new roman" lang=EN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">Parenting style is adapted to the
characteristics and maturity level of the business entity.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">3.</font><font face="times new roman" lang=EN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">Empowerment of business entities according to
their characteristics.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:5.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">In order to
apply the parenting management mechanism to the whole portfolio of our Group,
we have established the Board of Executives (BoE), consisting of all of Telkom
Directors and the chief executive officers of certain of our businesses. The
BoE serves as a parenting mechanism for our subsidiary companies by placing
those companies in four categories, namely the cellular business, the media
business, the infrastructure business, and the international business. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our&nbsp;</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">
cellular business is </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">operated
under</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> Telkomsel, the media
business is </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">operated under</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> Metra, the infrastructure business is </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">operated under</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> TelkomInfratel, while the international business is </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">operated under</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> Telin.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:5.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Beginning 2016, we
are also undertaking a transformation of our oversight or parenting system,
from a formerly core and adjacent product, into a customer facing unit/business
segment-based system, which we refer to as CFUs, following our implementation
of the new customer or CFU-based parenting system for our Directorate of
Enterprise Business &amp; Business Services (&#8220;EBIS&#8221;) as a pilot project in
2015. Beginning January 1, 2016, we have reorganized our 15 previous portfolios
(consisting of nine product portfolios and six customer portfolios), into six
product portfolios, mapped onto one or more five CFUs. We are in the process of
continuing to reorganize internally to reflect our revised product portfolio
and CFU structure. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Information
on Subsidiaries and Associated Companies</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We
have experienced continuous organic and inorganic growth. Organic growth is
achieved through the expansion of our existing operations and the creation of
synergies between our subsidiaries. Inorganic growth is accomplished through
the acquisition of companies that we deemed are capable to add strategic value
to our entire Group and to contribute to the long-term revenue growth and
sustainability of business.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="times new roman" lang=IN style="font-size:5.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">The following table illustrates our corporate structure</font><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">,&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> as of December 31, </font><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">2015</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, including our direct and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">immediate </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">indirect
equity ownership in our subsidiaries.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:5.0pt;">&nbsp;</font></p>

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<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">A complete list of our subsidiaries and investments in
associated companies, and our ownership percentage of each entity, as of
December 31, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2015</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, is set forth below and is contained in Note</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 1</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">d and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">0&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> to our
Consolidated Financial Statements included elsewhere in this report.</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Direct
Subsidiaries</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Companies</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Percentage of Ownership Interest</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Nature of Business</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational Status</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Description</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telkomsel,
  Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">65%</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">Telecommunication</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;"> provides telecommunication facilities and mobile
  cellular services using </font><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">G</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">lobal </font><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">S</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">ystem for </font><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">M</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">obile communication (&#8220;GSM&#8221;) technology</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telkomsel,
  established on May 26, 1995.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Metra,
  Jakarta </font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="times new roman" style="font-size:9.0pt;">100%</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Multimedia
  and </font><font face="times new roman" lang=IN style="font-size:9.0pt;">network&nbsp;</font><font face="times new roman" style="font-size:9.0pt;">
  telecommunication services</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Metra, acquired
  on May 9, 2003, is our NEB holding company. </font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">M</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">etra
  focuses on network construction, development, maintenance and services, and
  multimedia services (data communications systems, portal and online
  transaction services).</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telin</font></b><b><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">, Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="times new roman" style="font-size:9.0pt;">100%</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Telecommunication</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">Previously known as PT Ariawest
  International, Telin was established on July 31, 2003 and is a wholly owned
  subsidiary of Telkom. Currently, Telin has obtained the </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">fixed closed network</font><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;"> license and Network Access Provider license. Telin provides network
  services and international telecommunication services, as well as
  international business.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="times new roman" style="font-size:9.0pt;">PINS,
  Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">100%</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Telecommunication
  construction and services</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">Previously
  </font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PT Pramindo Ikat Nusantara</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">.
  </font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PINS was originally established to operate our KSO in
  Sumatra. PINS was acquired on August 15, 2002.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Mitratel,
  Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">100%</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Telecommunication</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Mitratel provides
  fixed line telephone services, supply of telecommunications facilities and
  infrastructure and telecommunications services. Acquired on May 17, 2001,
  Mitratel transformed it self by entering the telecommunications
  infrastructure supply business, which includes supplying telecommunications
  towers to meet the BTS installment needs of telecommunications operators all
  over Indonesia.</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">On October 9,
  2014, we signed a Conditional Shares Exchange Agreement with PT Tower Bersama
  Infrastructure Tbk (&#8220;TBI&#8221;) to exchange our 49% ownership in Mitratel for 5.7%
  ownership</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;"> in</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;"> TBI. The agreement also provided us with an option to exchange
  our remaining 51% ownership in Mitratel within 2 years that will increase our
  ownership in TBI up to 13.7%. In 2015, the agreement was cancelled without
  any penalties as certain approvals that were required as conditions to
  completion were not obtained. </font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telkom
  Property, Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">99.99%</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Leasing
  of offices and providing building management and maintenance services, civil
  consultant and developer</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">Telkom
  Property a</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">cquired on April 25, 2001 and operates throughout Indonesia
  and manages buildings owned by us and third parties.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

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</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Companies</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Percentage of Ownership Interest</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Nature of Business</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational Status</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Description</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Napsindo,
  Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">60%</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Telecommunication</font><font face="times new roman" lang=IN style="font-size:9.0pt;">
  (provides Network Access Point / NAP, Voice over Data / VoD, and other
  related services)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Ceased
  operation</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Napsindo was
  established on December 29, 1998, Napsindo ceased operation as of January 13,
  2006.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telkom
  Akses, Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">100%</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Construction services and
  trade in the field of telecommunication </font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telkom Akses
  was established on November 26, 2012.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Patrakom,
  Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">100%</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Telecommunication
  (provides satellite communication system service and facilities)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Patrakom was
  established on September 28, 1995. On September 25 and November 29, 2013, the
  Company acquired additional interest of 40% and 20%, respectively,</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;"> of </font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Patrakom.&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telkom
  Infratel, Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">100%</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Construction services and
  trade in the field of telecommunication</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telkom Infratel
  was established on January 16, 2014.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Immediate
Indirect Subsidiaries </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=windowtext face="times new roman" lang=EN-US style="font-size:6.0pt;line-height:normal;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.02%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Companies</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Percentage of Ownership Interest</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Nature of Business</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational Status</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Description</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PT
  Infomedia Nusantara (&#8220;Infomedia&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">100%
  </font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">(through a 51% </font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">ownership by Metra</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">)&nbsp;&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Data
  and information service </font><font face="times new roman" lang=IN style="font-size:9.0pt;">-&nbsp;</font><font face="times new roman" style="font-size:9.0pt;"> provides telecommunication
  information services and other information services in the form of print and
  electronic media and call center services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Infomedia was
  acquired on September 22, 1999 to operate KSO in Sumatra. Infomedia has
  transformed from focusing on three pillars of business (directory service,
  contact center services and content services) to focus on business process
  outsourcing and digital media and rich content services.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PT
  Sigma Cipta Caraka (&#8220;</font></b><b><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">S</font></b><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">igma&#8221;),
  </font></b><b><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">Tangerang&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">100% ownership
  by Metra</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Information
  technology service-system implementation and integration service, outsourcing
  and software license maintenance</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">S</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">igma
  was established on May 1, 1987. It service focuses on providing IT solutions.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telin
  Singapore, Singapore</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">100%
  ownership by Telin</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Telecommunication</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telin Singapore
  was established on December 6, 2007, pursuant to the laws of Singapore. Telin
  Singapore is a wholly owned subsidiary of Telin. The Company has obtained
  Facility Based Operator License. Telin Singapore provides telecommunication
  and related services. </font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="times new roman" style="font-size:9.0pt;">PT
  Metra Plasa
  (&#8220;Metra
  Plasa&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">60% ownership
  by Metra</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Network
  and e-commerce services</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Metra
  established Metra Plasa with eBay International AG on April </font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">9</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">, 2012. </font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PT
  Administrasi Medika (&#8220;Ad Medika&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">75% ownership
  by Metra</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Health
  insurance and administration services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Ad Medika was
  established on February 25, 2010. Ad Medika provides online claim processing
  services between the hospitals and health insurance companies.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




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</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.02%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Companies</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Percentage of Ownership Interest</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="times new roman" style="font-size:9.0pt;">Nature of
  Business</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational Status</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Description</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PT
  Finnet Indonesia (&#8220;Finnet&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">60% ownership
  by Metra</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Information
  technology services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Finnet was
  established on October 31, 2005, as a provider of IT infrastructure,
  applications and content for information systems and financial transactions
  for the banking and financial services industry.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="times new roman" style="font-size:9.0pt;">PT
  Telkom
  Landmark
  Tower (&#8220;TLT&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">55% ownership
  by Telkom Property</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Service
  for property development and management</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telkom Property
  established TLT with Yakes Telkom on December 27, 2011.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telin
  Hong Kon</font></b><b><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">g</font></b><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">, Hong Kong</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">100% ownership
  by Telin</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Telecommunication</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telin Hong Kong
  was established in Hong Kong on December 8, 2010 a wholly owned subsidiary of
  Telin. Telin Hong Kong obtained Unified Carrier License on March 1, 2011,
  Service Based Operator for MVNO on July 27</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">,&nbsp;</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">
  2011 and License for Operating Money Service on July 18, 2012. Currently, it
  provides wholesale voice, wholesale data and retail mobile services. The
  retail mobile service is provided under the brand Kartu As 2in1. </font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PT Metranet (&#8220;Metra-Net&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">99.99%
  ownership by Metra</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Multimedia
  portal service</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Metra-Net was
  established on April 17, 2009 and focuses on e-commerce (B2C) and portals.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telin
  Timor Leste, Timor Leste</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">100% ownership
  by Telin</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Telecommunication</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=windowtext face="times new roman" lang=EN-GB style="font-size:9.0pt;line-height:normal;">Telin Timor Leste was a subsidiary of Telin established on
  September 17, 2012. Telin
  Timor Leste has obtained radio spectrum license and general registration
  certificate. It provides cellular services with coverage over Timor Leste
  districts and broadband internet with 3G on 850Mhz frequency,</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;"> c</font><font color=windowtext face="times new roman" lang=EN-GB style="font-size:9.0pt;line-height:normal;">orporate </font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">s</font><font color=windowtext face="times new roman" lang=EN-GB style="font-size:9.0pt;line-height:normal;">olution, as well as </font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">w</font><font color=windowtext face="times new roman" lang=EN-GB style="font-size:9.0pt;line-height:normal;">holesale </font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">v</font><font color=windowtext face="times new roman" lang=EN-GB style="font-size:9.0pt;line-height:normal;">oice and </font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">d</font><font color=windowtext face="times new roman" lang=EN-GB style="font-size:9.0pt;line-height:normal;">ata</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">.&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=windowtext face="times new roman" lang=EN-GB style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PT
  Graha Yasa Selaras (&#8220;GYS&#8221;), </font></b><b><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">Jakarta&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">51% ownership
  by Telkom Property</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Tourism
  service</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">O</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">perational&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telkom Property
  established GYS with Yakes Telkom on February 7, 2012 to focus on hospitality
  services.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PT
  Metra Digital Media (&#8220;MD Media&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">99.99%
  ownership by Metra</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Directory
  Information Services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">MD Media was
  established on January 22, 2013 and focuses on digital advertising services.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PT
  Pojok Celebes Mandiri (&#8220;PCM&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">51% ownership
  by Metra</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Tour
  agent/bureau services</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PCM was
  established on August 16, 2013 and provides travel booking and purchase
  services.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PT
  Satelit Multimedia Indonesia (&#8220;SMI&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">99.99%
  ownership by Metra</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Satellite
  services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">SMI was
  established on March 25, 2013 and focuses on commerce and providing network
  services, telecommunication, satellite and multimedia services.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PT
  Metra </font></b><b><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">Digital Investama </font></b><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">(&#8220;M</font></b><b><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">DI</font></b><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">99.99%
  ownership by Metra</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Trading
  and/or providing service related to information and technology, multimedia,
  entertainment
  and
  investment</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">Previously
  PT M</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">etra Media. MDI was established on January 29, 2013 and
  focuses on trading</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">, </font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">construction,&nbsp;</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;"> advertising,</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;"> and other services. </font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telkom
  Australia, Australia</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">100% ownership
  by Telin</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Telecommunications</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Tel</font><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">kom Australia is a wholly owned subsidiary of Telin. </font><font face="Times New Roman" lang=EN style="font-size:9.0pt;line-height:normal;">Established on January 14, 2013, it engages
  in </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">b</font><font face="Times New Roman" lang=EN style="font-size:9.0pt;line-height:normal;">usiness </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">p</font><font face="Times New Roman" lang=EN style="font-size:9.0pt;line-height:normal;">rocess </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">o</font><font face="Times New Roman" lang=EN style="font-size:9.0pt;line-height:normal;">utsourcing, </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">i</font><font face="Times New Roman" lang=EN style="font-size:9.0pt;line-height:normal;">nformation
  </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">t</font><font face="Times New Roman" lang=EN style="font-size:9.0pt;line-height:normal;">echnology </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">o</font><font face="Times New Roman" lang=EN style="font-size:9.0pt;line-height:normal;">utsourcing, and IT Services.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.02%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Companies</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Percentage of Ownership Interest</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="times new roman" style="font-size:9.0pt;">Nature of
  Business</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational Status</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Description</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PT
  Metra TV (&#8220;Metra TV&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">99,83%
  ownership by Metra</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Subscription</font><font face="times new roman" lang=IN style="font-size:9.0pt;"> - </font><font face="times new roman" style="font-size:9.0pt;">broadcasting
  services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Dormant</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Metra TV was
  established on January 8, 2013 and provides pay-TV services.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telkom
  Macau Limited, Macau</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">100% ownership
  by Telin Hong Kong</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Telecommunication</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telkom Macau</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;"> Limited</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;"> is a subsidiary of Telin Hong
  Kong, which was established on  May 13, 2013 and </font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">it
  provides retail mobile services</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">.&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telkom
  Taiwan Limited, Taiwan</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">100% ownership
  by Telin Hong Kong</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Telecommunication</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telkom Taiwan
  is a subsidiary of Telin Hong Kong, which was established on June 3, 2013 and
  </font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">it provides retail mobile services</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">.&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">Telkom
  USA</font></b><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">., USA</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">100% ownership
  by Telin</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Telecommunication
  </font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telkom USA is a
  wholly owned subsidiary of  Telin. It was established on December 11, 2013.</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;"> Telkom USA undertakes business relating to
  telecommunication products, telecommunication services, information
  technology,  information technology products and information technology
  services</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">.&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">PT
  Nusantara Sukses Sarana (&#8220;NS</font></b><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">S</font></b><b><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">99.99%
  ownership by Telkom Property</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" lang=IN style="font-size:9.0pt;">Building,
  hotel management service</font><font face="times new roman" style="font-size:9.0pt;">
  and other services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">Dormant</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">NSS
  was established on August 27, 2014 and focused on building and hotel
  management services.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">PT
  Nusantara Sukses Realti (&#8220;NSR&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">99.99%
  ownership by Telkom Property</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" lang=IN style="font-size:9.0pt;">Service
  and trading</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">Dormant</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">NSR
  was established on August 27, 2014.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">PT
  Nusantara Sukses Investasi (&#8220;NSI&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">99.99%
  ownership by Telkom Property</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" lang=IN style="font-size:9.0pt;">Service
  and trading</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">NS</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">I&nbsp;</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;"> was established on August 27, 2014.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">PT
  Sarana Usaha Sejahtera Insanpala</font></b><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">pa (&#8220;TelkoMedika&#8221;)</font></b><b><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">, Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">75%
  ownership by Me</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">t</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">ra&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" lang=IN style="font-size:9.0pt;">Health
  services, medicine services including pharmacies, labolatories and other
  health care support</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">On November 30,
  2015, Metra acquired 13,850 shares of TelkoMedika</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">.&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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</DIV>
<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Associated
Companies</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Companies</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Percentage of Ownership Interest</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Nature of Business</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational Status</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Description</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="times new roman" style="font-size:9.0pt;">PT
  Integrasi Logistik Cipta Solusi (&#8220;ILCS&#8221;)</font></b><b><font face="times new roman" lang=IN style="font-size:9.0pt;">, Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">49% ownership
  by Metra</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">E-trade
  logistic services and other related services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Metra
  established ILCS with Pelindo II on September 21, 2012.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PT Citra Sari Makmur (&#8220;CSM&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">25%</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Very
  Small Aperture Terminal (&#8220;VSAT&#8221;), network application services and consulting
  services on telecommunications technology and related facilities</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">CSM was
  established on February 14, 1986.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PT
  Indonusa Telemedia (&#8220;Indonusa&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">20% (including
  through 4.33% ownership by Metra)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Pay
  television and content services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Established on
  May 7, 199</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">7, </font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Indonusa is a multimedia (pay-TV, internet service) service
  provider. Since 2007, Indonusa was the first Pay TV operator in Indonesia to
  launch DTH Prepaid (Prepaid Satellite Pay TV), under the &#8220;TelkomVision&#8221;
  brand. On October 8, 2013, 1</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">,</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">036</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">,</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">059</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">,</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">483 Indonusa
  shares (equivalent to 80% of its ownership in Indonusa) were sold to PT Trans
  Corpora and PT Trans Media Corpora.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PT
  Tiphone Mobile Indonesia Tbk (&#8220;TiPhone&#8221;)</font></b><b><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">,&nbsp;</font></b><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">
  Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">24.65%
  ownership by PINS</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Telecommunication
  equipment business</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Established on
  June 25, 2008. Based on notarial deed No</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">.
  </font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">118 dated September 11, 2014 of Jimmy Tanal, S.H., M.H.
  PINS, ou</font><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">r&nbsp;</font><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">
  subsidiary, acquired 25% ownership in TiPhone to strengthten our digital
  ecosystem.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Joint Venture Companies</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Company</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Percentage of Ownership Interest</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Nature of Business</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational Status</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Description</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">PT
  Melon Indonesia (&#8220;Melon&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">51% ownership
  by Metra</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">Digital
  Content Exchange Hub services (&#8220;DCEH&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Melon is a
  joint venture company between Metra and SK Telecom Korea. Melon was
  established on August 16, 2010.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Telin
  Malaysia, Kuala Lumpur</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">49% ownership
  by Telin</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" lang=EN style="font-size:9.0pt;">Telecommunication</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">Telekomunikasi Indonesia International
  Malaysia Sdn. Bhd. is a Joint Venture Company with Compudyne. Sdh. Bhd.
  established on July 2, 2013</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">.&nbsp;</font><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;"> Telin Malaysia provides MVNO service in Malaysia
  after obtaining Applications Service Provider Class (ASP (C)) license on July
  23, 2013 and Network Service Provider (NSP) on August 23, 2013 from Malaysian
  Communication and Multimedia Commission. Telin Malaysia was officially
  operated on August 25, 2013. Telin Malaysia retail mobile Service is under
  &quot;Kartu AS&quot; brand.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" lang=IN style="font-size:9.0pt;line-height:normal;">PT
  Teltranet Aplikasi Solusi (&#8220;Teltranet&#8221;), Jakarta</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">51% ownership
  by Metra</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" lang=IN style="font-size:9.0pt;">Communication system</font><font face="times new roman" style="font-size:9.0pt;">
  services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Operational</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face="times new roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Teltranet is a joint venture
  company between Metra and Telstra Holding Singapore Pte.Ltd. Teltranet was
  established on </font><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">October 27</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">,
  2014.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">D.&#160;&#160;&#160; PROPERTY
AND EQUIPMENT</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our property and
equipment are primarily used for telecommunication operations, which mainly
consist of transmission </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">installation
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and equipment, cable network and
switching equipment. A description of these is contained in Note 1</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> to our
Consolidated Financial Statements</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;line-height:normal;"> </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and
Item 4 &#8220;Information on The Company &#8211; Business Overview &#8211; Network
Infrastructure and Development&quot;. See item 5 &#8220;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Operating and Financial Review and Prospects -
Liquidity - Capital Expenditures</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221; for
material plans to construct, expand or improve our property and equipment.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;letter-spacing:0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:0pt;line-height:normal;">Except for ownership rights granted to
individuals in Indonesia, reversionary rights to land rests with the Republic
of Indonesia, pursuant to Agrarian Law No.5/1960. Land title is designated
through land rights, including Right to Build (</font><i><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:0pt;line-height:normal;">Hak Guna Bangunan </font></i><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:0pt;line-height:normal;">or HGB)
and Right of Use (</font><i><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:0pt;line-height:normal;">Hak Guna Usaha </font></i><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:0pt;line-height:normal;">or HGU). Land title holders enjoy full
use of the land for a specified period, subject to renewal and extensions. In
most instances, land rights are freely tradable and may be pledged as security
under loan agreements.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> own several pieces of land located throughout
Indonesia with the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">right to build
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and use for a period of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">0 to 45
years, which will expire between 2016 and 205</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We
believe</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> that there will be no difficulty
in obtaining the extension of the land rights when they expire. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We hold registered rights to build </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and use </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">for
most of our properties. Pursuant to Government Regulation No.40/1996, the
maximum initial period for the right to build is 30 years</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and is</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
renewable for an additional 20&#160; years. We are not aware of any environmental
issues that could affect the utilization of our propert</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">y and equipment</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. All assets owned by </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">our&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Company ha</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ve&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> been pledged as collateral for bonds. Certain
property and equipment of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">our&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> subsidiaries with gross carrying value
amounting to Rp9</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">003 billion as of December 31, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2015&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
have been pledged as collateral for lending agreements. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Please refer to Notes 1</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">7&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and 1</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">8
to</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> our Consolidate</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Financial Statements.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">Insurance</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">As
of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">December 31, 2015</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, property and equipment exc</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">luding&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> land
rights, with net carrying amount of Rp9</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">3</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">460&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> billion were
insured against fire, theft, earthquake and other specified risks, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">including business inte</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">r</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">ruption,
under blanket policies totaling</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> of Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">10,980&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
billion, US$9</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">9</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;million, HKD</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">3&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> million and
SGD34 million</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Management believes that the insurance coverage is
adequate to cover potential losses from the insured risks.</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-transform:uppercase;">Disclosure of Iranian Activities under Section 13(r) of the Exchange
Act</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:12.0pt;">Section 219 of the Iran Threat Reduction and Syria
Human Rights Act of 2012 added Section 13(r) to the Exchange Act. Section 13(r)
requires an issuer to disclose in its annual or quarterly reports, as
applicable, whether it or any of its affiliates knowingly engaged in certain
activities, transactions or dealings relating to Iran or with designated
natural persons or entities involved in terrorism or the proliferation of
weapons of mass destruction. Disclosure is required even where the activities,
transactions or dealings are conducted outside the US by non-US affiliates in
compliance with applicable law, and whether or not the activities are
sanctionable under US law.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:12.0pt;">As of the date of this report, we are
not aware of any activity, transaction or dealing by us or any of our
affiliates in 2015 that requires disclosure in this report under Section 13(r)
of the Exchange Act, except as set forth below.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Our
subsidiary, Telkomsel, is party to international roaming agreements with Mobile
Telecommunication Company of Iran and Irancell Telecommunications Services
Company, which are or may be government-controlled entities.</font><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> </font></i></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In
2015, we recorded gross revenues of less than Rp7 bilion and net profit of less
than Rp12 bilion from these agreements. The purpose of these agreements is to
provide Telkomsel&#8217;s customers with coverage in areas where Telkomsel does not
own networks, and for this reason Telkomsel intends to continue the activities
covered by these agreements.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We
also provide telecommunications services in the ordinary course of business to
the Embassy of Iran in Jakarta, Indonesia. We recorded approximately Rp66
milion from these services in 2015. As one of the primary providers of
telecommunications services in Indonesia, we intend to continue providing such
services, as we provide to the embassies of many other nations.</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ITEM 4A. <a name=USC></a>UNRESOLVED STAFF COMMENTS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Not applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ITEM 5. <a name=OFRP></a>OPERATING AND FINANCIAL REVIEW AND PROSPECTS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The
following discussion and analysis should be read in conjunction with our
Consolidated Financial Statements included elsewhere in this Form 20-F. These
Consolidated Financial Statements were prepared in accordance with IFRS as
issued by the IASB.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">OPERATING RESULTS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We
are the principal provider of local, domestic and international
telecommunications services in Indonesia, as well as the leading provider of
mobile cellular services through our majority-owned subsidiary, Telkomsel. Our
objective is to become a leading TIMES player in the region. As of December 31,
2015, we had approximately 152.6 million cellular subscribers through Telkomsel</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">10.3
million subscribers on our fixed wireline network, and 47.8 million broadband subscribers.
We also provide a wide range of other communication services, including
telephone network interconnection services, multimedia, data and internet
communication-related services, satellite transponder leasing, leased line,
intelligent network and related services, cable television and VoIP services.
We also operate multimedia businesses such as content and applications. We
intend to continue to cope with market and industry challenges that may arise
from time to time by leveraging our customer base, network quality, brand name
and strategic execution capabilities.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">Growth of the Indonesian economy slowed in 2015 as growth in
gross domestic product decreased from</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> </font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">an&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> </font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">average&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
</font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">of&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> </font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">5.8</font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">% in 201</font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">1</font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">-2014 to </font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">4.8</font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">%
in 2015</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> </font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">and&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> </font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">i</font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">nflation accelerated from an average of </font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">4.5</font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">% in 2011-2014 to </font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">5.0</font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">% in 2015 (source: </font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">Indonesia</font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">n&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> </font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">Central
</font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">Bureau of </font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">Statistic)</font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">.&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> </font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">The R</font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">upiah depreciated from an average of </font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">Rp8</font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">,</font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">779 to one US dollar</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> </font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">in 201</font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">1 to an average of Rp13</font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">,</font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">392 in 2015 and hitting low of Rp14</font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">,</font><font face="Times New Roman" lang=IN style="background:white;font-size:10.0pt;line-height:normal;">728 in 2015 (source: Bank Indonesia)</font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">.&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
Though the exposure of our Company and our subsidiaries to foreign exchange
rates are not material, we are exposed to foreign exchange risk on sales,
purchases and borrowings that are primarily
denominated in </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">U</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">S&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Dollar</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s
and</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Japanese Yen</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">See Item 11
&#8220;Quantitative and Qualitative Disclosure about Market Risk &#8211; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Foreign </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Exchange
Rate Risk&#8221;.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The growth in our revenues </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">in&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> 2015 compared
with 2014 was largely driven by increases in revenues from data, internet and information
technology services </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">26.5% and</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> revenues from </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">cellular </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">telephone of</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> 8.7%. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our operating
results </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">in&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> 2015 compared with 2014 also reflected an increase in
expenses. This increase was mainly driven by operation, maintenance and
telecommunication services expenses, which increased primarily as a result of
an increase in our network capacities to better serve our customers,
particularly for internet and data service.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Principal Factors Affecting our
Financial Condition and Results of Operations</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Increase in Cellular Telephone
Revenues</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In Indonesia mobile
phones have become the primary tool for telecommunication, both for voice calls
as well as in terms of internet usage. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">growing popularity of
smartphones has contributed to the growth of our </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ARPU from approximately Rp39,000 in 2014 to approximately
Rp43,000 in 2015. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our cellular
telephone revenues increased by 8.7% from</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Rp34,290 billion in</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160; 2014 to</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Rp37,285 billion</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> 2015</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Telkom's revenues from cellular phone services (usage
charges, monthly subscription charges and features) accounted for 36.3% of our
consolidated revenues for the year ended December 31, 2015, compared to 38.2%
for the year ended December 31, 2014.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Although w</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e
believe that the
competition has become more rational
in Indonesia, we still consider
it as a major risk to our businesses.
</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">See
Item 3 &#8220;Key Information &#8211; Risk Factors &#8211; Risks Related to Our Business &#8211; Risks
Related to Our</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Fixed and</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Cellular </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Telecommunication
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Business</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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</DIV>
<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Increase in
Data, Internet and Information Technology Services Revenues</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Data, internet and
information technology services revenues accounted for 46.6% of our
consolidated revenues for the year ended December 31, 2015, compared to 42.2%
for the year ended December 31, 2014. Revenues from our data, internet and
information technology services increased by 26.5% from 2014 to 2015. The
increase in data, internet and information technology services revenues in 2015
was primarily due to a 45.0% </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">increase in</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> revenue from </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">cellular internet and data, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and
24.5% </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">increase in</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> revenue from</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> non-cellular internet, data communication and information technology
service</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. We seek to continue to increase
such revenues and have continued to invest in improving broadband
infrastructure.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Decrease in
Fixed Lines Telephone Revenues</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Our
fixed lines telephone revenues decreased by 7.1% from Rp8,435 billion in 2014
to Rp7,833 billion in 2015 as a result of
3.2% decrease in fixed wireline revenues
and 73.7% decrease in fixed wireless revenues. On June 27, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2014</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, we
entered into a Conditional Business Transfer Agreement with Telkomsel to
transfer parts of the Flexi business and migrate Flexi subscribers to Telkomsel</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. We terminated our services on May 31, 2015.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We
believe that fixed lines telephone revenues have been declining due to the increased
usage and more competitive tariffs of mobile cellular services and
increased penetration of cellular subscribers in Indonesia. Cellular services
provide increased convenience, and in certain cases where subscribers call
other subscribers using the same provider&#8217;s network, tariffs can be lower than
fixed wireline calls that are made to subscribers of another provider. We
expect that the trend of declining fixed lines telephone revenues will
continue. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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</DIV>
<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">TELKOM</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8217;S&nbsp;</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND
OTHER COMPREHENSIVE INCOME</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The following table sets out our Consolidated Statements of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Profit or Loss and Other </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Comprehensive Income for the years ended 2013, 2014
and 2015</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. Each item is expressed as a
percentage of total revenues or expenses.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=25% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=5 valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">%</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">%</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">%</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(US$ million)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Revenues</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Telephone Revenues</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Cellular</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Usage
  charges</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">30,722</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">37.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">32,972</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">36.8</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">35,803</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">34.9</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,597</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Features</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">686</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">751</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,050</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">76</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Monthly
  subscription charges</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">730</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.9</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">567</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.6</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">432</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">32</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Sub-total</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">32,138</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">38.7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">34,290</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">38.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">37,285</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">36.3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,705</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Fixed Lines</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Usage
  charges</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6,453</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7.8</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,347</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,635</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4.5</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">336</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Monthly subscription charges</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,682</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,697</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3.0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,821</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">205</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Call
  center</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">119</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">290</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">275</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">20</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">242</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">101</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">102</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Sub-total</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9,496</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">11.5</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">8,435</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9.4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7,833</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7.7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">568</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total Telephone Revenues</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">41,634</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">50.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">42,725</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">47.6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">45,118</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">44.0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,273</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Interconnection Revenues</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Domestic
  interconnection</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,971</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3.6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,908</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,276</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">165</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">International interconnection</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,872</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,800</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,014</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">146</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total
  Interconnection Revenues</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,843</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5.9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,708</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,290</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">311</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Data, Internet and Information Technology Services
  Revenues</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Cellular
  internet and data</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">10,113</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">13,563</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">19,665</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">19.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,427</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Short Messaging Services (&quot;SMS&quot;)</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">13,134</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15.8</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,034</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15.7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15,132</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14.8</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,098</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Internet, data communication and information
  technology service</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9,154</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">11.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9,987</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">11.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,432</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">902</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Pay
  TV</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">274</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">96</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">456</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">33</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">202</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">128</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">135</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total Data, Internet and Information Technology
  Services Revenues</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">32,877</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">39.6</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">37,808</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">42.2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">47,820</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">46.6</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,469</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Network Revenues</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Leased
  lines</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">861</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">610</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">719</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">52</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Satellite
  transponder lease</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">392</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">670</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">512</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">37</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total
  Network Revenues</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,253</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.5</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,280</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,231</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">89</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Others Telecommunications Revenues</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Sales
  of handset</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">84</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">582</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,516</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.5</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">110</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Tower
  leases</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">570</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">700</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">721</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">52</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Call
  center service</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">205</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">446</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.5</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">668</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">48</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">CPE
  and terminal</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">100</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">61</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">221</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">16</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,401</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,386</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.5</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">885</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.9</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">65</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total Other Telecommunications Revenues</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,360</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,175</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3.6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,011</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4.0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">291</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total Revenues</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">82,967</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">100.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">89,696</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">100.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">102,470</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">100.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7,433</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Expenses</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Operations, Maintenance and Telecommunication
  Services Expenses</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Operations and maintenance</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9,658</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">16.7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">11,827</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">19.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15,658</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">21.9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,136</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Radio frequency usage charges</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,098</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5.4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,207</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5.2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,626</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5.1</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">263</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Concession fees and USO charges</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,595</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,818</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3.0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,230</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">162</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Cost
  of handset sold</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">153</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">421</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,493</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.1</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">108</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Leased
  lines and CPE</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">440</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">758</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,384</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">100</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_68"></a><a name="_bclPageBorder68"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader68"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=25% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=5 valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">%</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">%</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">%</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(US$ million)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Electricity,
  gas and water</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,063</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,180</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,014</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">74</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Cost
  of IT services</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">677</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">357</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.6</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">882</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">64</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Tower
  rent</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,166</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,065</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">646</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">47</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Cost of SIM cards and vouchers</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">599</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">610</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">444</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.6</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">32</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Insurance</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">374</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">335</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">312</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">23</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Vehicles rental and supporting facilities</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">282</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.5</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">272</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">296</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">21</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Project
  management</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">138</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">180</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">117</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">89</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">258</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total Operations, Maintenance and Telecommunication
  Services Expenses</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">19,332</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">33.5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">22,288</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">36.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">28,116</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">39.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,040</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Depreciation and Amortization Expenses</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15,805</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">27.3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">17,178</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">27.9</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">18,572</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">25.9</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,347</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Personnel Expenses</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Vacation pay, incentives and other benefits</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,252</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5.6</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,182</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5.2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,225</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5.9</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">307</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Salaries and related benefits</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,553</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,759</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,052</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5.7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">294</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Employees&#8217; income tax</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,160</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,317</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.1</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,632</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">118</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Early retirement program</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">683</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">50</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Pension benefit cost</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">988</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">643</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">443</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.6</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">32</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Post-employment health care benefit cost</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">382</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">248</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">216</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">16</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Housing</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">220</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">224</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">212</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">LSA expenses</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">19</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">115</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">152</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">11</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Insurance</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">92</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">138</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">10</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Other employee benefit cost</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">56</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">53</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Other post-employment benefit cost</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">41</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">48</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">47</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">107</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">86</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">32</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total
  Personnel Expenses</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9,829</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">17.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9,776</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15.9</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">11,885</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">16.7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">862</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Interconnection Expenses</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Domestic interconnection and access</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,720</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6.4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,639</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5.9</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,351</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3.3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">170</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">International interconnection</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,207</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,254</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,235</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">90</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total Interconnection Expenses</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,927</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">8.5</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,893</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7.9</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,586</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">260</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Marketing Expenses</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,044</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5.3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,092</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5.0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,275</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4.6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">238</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">General and Administrative Expenses</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">General
  Expenses</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">675</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">967</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,032</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">75</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Provision for impairment of receivables</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,589</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">784</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,010</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1.4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">73</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Professional fees</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">272</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">266</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">424</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">31</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Training, education and recruitment</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">412</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">528</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.9</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">393</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.5</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">28</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Collection
  expenses</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">340</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">369</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">368</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">27</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Travelling</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">341</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.6</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">355</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.6</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">347</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.5</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">25</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Meeting</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">138</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">162</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">163</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Social
  contribution</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">85</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">96</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">116</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">8</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Security
  and screening</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">93</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">104</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">81</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">210</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">332</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.5</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">270</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">20</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_69"></a><a name="_bclPageBorder69"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader69"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=25% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=5 valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">%</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">%</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">%</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(US$ million)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total General and Administrative Expenses</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,155</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,963</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6.6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,204</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5.8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">305</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Loss on foreign exchange - net</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">249</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">46</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Other expenses</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">480</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">396</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,917</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">139</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total expenses</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">57,850</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">100.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">61,617</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">100.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">71,603</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">100.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,194</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Other income</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,581</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,076</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,500</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">109</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Operating Profit</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">27,727</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">29,172</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">32,369</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,348</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Finance income</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">836</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,238</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,407</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">102</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Finance costs</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(1,504</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(1,814</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(2,481</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(180</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Share of loss of associated companies</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(29</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(17</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Profit before Income Tax</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">27,030</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">28,579</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">31,293</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,270</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Net Income Tax Expense</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(6,900</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(7,341</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(8,023</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(582</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Profit for the Year</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">20,130</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">21,238</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">23,270</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,688</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Other Comprehensive Income  - Net</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,115</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">810</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">493</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">36</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Net Comprehensive Income for the Year</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">25,245</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">22,048</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">23,763</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,724</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Profit for the year attributable to owners of the
  parent company</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,046</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,437</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15,451</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,121</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Net comprehensive income for the year attributable to
  owners of the parent company</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">19,018</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">15,291</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">16,003</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,161</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Basic and Diluted Earnings per Share (in full amount)</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Profit per share</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">145.77</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">147.78</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">157.38</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.01</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=25% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Profit per ADS (200 Series B shares per ADS)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">29,153.58</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">29,556.53</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">31,475.66</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.28</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Financial Overview</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Year ended December 31, 2015 compared to year ended
December 31, 2014</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Revenues&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Total revenues increased by Rp12,774 billion, or
14.2%, from Rp89,696 billion in 2014 to Rp102,470 billion in 2015. The increase
was primarily contributed by data</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> internet and information technology service revenues, cellular
telephone revenues, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">and others
telecom</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">m</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">unication revenues.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Cellular Telephone Revenues</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Cellular telephone revenues increased by Rp2,995
billion, or 8.7%, from Rp34,290 billion in 2014 to Rp37,285 billion (US$2,705
million) in 2015</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Usage charges increased by Rp2,831 billion, or 8.6%,
from Rp32,972 billion in 2014 to Rp35,803 billion in 2015 due to an increase</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">8.6</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">%&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> in
both our prepaid and postpaid subscriber. Revenues from features increased by
Rp299 billion</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> or 39.8%, from Rp751 billion in 2014 to Rp1,050
billion in 2015 due to an increase in usage features by our subscribers. This
increase was partially offset by </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">decrease </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">in </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">monthly subscription charges </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">of&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Rp135
billion, or 23.8%, from Rp567 billion in 2014 to Rp432 billion in 2015</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our total cellular telephone revenues accounted for
36.3% of our consolidated revenues for the year ended December 31, 2015.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Fixed Line Telephone Revenues</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Fixed lines revenues decreased by Rp602 billion, or
7.1%, from Rp8,435 billion in 2014 to Rp7,833 billion (US$568 million</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">)&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> in
2015. The decrease in fixed lines revenues due to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> decrease in
usage charges of Rp712 billion, or 13.3%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">caused by a decrease in local
and domestic long distance usage. This decrease was partially offset by an increase </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">in monthly subscription charges of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Rp124 billion, or 4.6%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Data, Internet and Information
Technology Services Revenues </font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our data, internet and information technology service
revenues accounted for 46.6% of our consolidated revenues for the year ended
December 31, 2015, compared to 42.2% for the year ended December 31, 2014</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Data, internet and information technology service
revenues increased by Rp10,012 billion, or 26.5%, from Rp37,808 billion in 2014
to Rp47,820 billion (US$3,469 million) in 2015. This increase was primarily due
to an increase in revenues from non cellularinternet, data communication and
information technology services </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">of&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Rp2,445 billion, or 24.5%,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> and cellular internet and data</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> by Rp6,102 billion, or 45.0%, which was
driven primarily by mobile broadband usage</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> including from an increase of 40.3</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> in </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Flash&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
subscribers </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">from </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">31.2 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">million
subscribers as of December 31, 2014 to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">43.8 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">million subscribers as
of December 31, 2015</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">SMS Revenues increased by Rp1,098 billion, or 7.8%,
from Rp14,034 billion in 2014 to Rp15,132 billion in 2015 driven </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">primarily by the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">successful implementation of cluster-based pricing and</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Pay TV revenues increased by </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Rp360 billion, or 375.0%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">d.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Interconnection Revenues</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Interconnection revenues comprised interconnection
revenues from our fixed line network and interconnection revenues from
Telkomsel&#8217;s mobile cellular network</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,
i</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">nclud</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ing </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">incoming
international long-distance revenues from our IDD service (TIC-007). </font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Interconnection revenues decreased by Rp418 billion,
or 8.9%, from Rp4,708 billion in 2014 to Rp4,290 billion (US$311 million) in
2015 primarily due to a decrease in domestic interconnection by Rp632 billion,
or 21.7</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">%</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. This decrease was partially offset by </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">an&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
increase</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> in</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> international interconnection revenues </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">of&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Rp214
billion, or 11.9%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Network Revenues</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Network revenues decreased by Rp49 billion, or 3.8%,
from Rp1,280 billion in 2014 to Rp1,231 billion (US$89 million) in 2015
primarily due to decrease in our satellite transponder lease revenue by Rp158
billion, or 23.6%, from Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">670 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">billion in 2014 to Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">512 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">billion in
2015, which was partially offset by</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
an</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> increase in leased line</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s revenue of</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Rp109 billion, or 17.9%. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">f.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other Telecommunications Revenues</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In 2015, revenues from other telecommunications
increased by Rp836 billion, or 26.3%, from Rp3,175 billion in 2014 to Rp4,011
billion (US$291 million) in 2015. The increase was primarily due to an increase
of Rp934 billio</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">n, or 160.5%, in
sales of handset, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Rp222 billion, or 49.8%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> in </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">all </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ent</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">er
service revenues </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Rp160 billion, or 262.3%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> in CPE and terminal</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> revenues. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">It </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">was </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">partly
offset </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">primarily </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">by </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">decrease in </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">others </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">y Rp501 billion</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> or 36.1</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">%.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other Income</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other income increased by Rp424 billion, from Rp1,076
billion in 2014 to Rp1,500 billion (US$109 million) in 2015</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> due to increase in gain on </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">disposal or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">sale </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">of property</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">equipment</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">3.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Expenses&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Total expenses increased by Rp9,986 billion, or 16.2%,
from Rp61,617 billion in 2014 to Rp71,603 billion in 2015. The increase in
expenses was attributable primarily to increases in operations, maintenance and
telecommunication services</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, personnel
expenses and other expenses</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Operations, Maintenance and
Telecommunication Service Expenses </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Operations, maintenance and telecommunication service
expenses increased by Rp5,828 billion, or 26.1%, from Rp22,288 billion in 2014
to Rp28,116 billion (US$2,040 million) in 2015. </font></p>

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The increase in operations, maintenance and
telecommunication service expenses was&#160; primarily attributable</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> to</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> the
following:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><font face=symbol lang=EN-US style="font-size:11.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Operations and maintenance increase</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> by Rp3,831 billion, or 32.4%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> due to</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> an </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">increase&nbsp;</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;"> in expenses associated with network maintenance to improve our mobile </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">cellular </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and IndiHome </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">service.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><font face=symbol lang=EN-US style="font-size:11.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Cost of handset sold
increase by Rp1,072 billion, or 254.6%, from Rp421 billion in 2014 to Rp1,493
billion in 2015 due to </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">an increase in</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> cost relating to handset sales</font><font face="Times New Roman" lang=IN style="font-size:11.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Leased lines and CPE increased by Rp626 billion, or
82.6%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">which </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">was&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> used for operation and maintenance of leased lines.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Radio frequency usage charges increased by </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Rp419 billion, or 13.1%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, due to</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> an
increase in</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> annual frequency
usage fee of Telkomsel</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The above increases were partially offset</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> primarily</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
by decrease</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s
in tower rent</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> by Rp419 billion, or 39.3%,
from Rp1,065 billion in 2014 to Rp646 billion in 2015 due to our termination of
our Flexi services in 2015.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Depreciation and Amortization </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Depreciation and amortization</font><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> </font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">expenses
increased by Rp1,394 billion, or 8.1%, from Rp17,178 billion in 2014 to
Rp18,572 billion (US$1,347 million) in 2015, primarily due to</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> addition of </font><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;">property and equipment to improv</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">e&nbsp;</font><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;"> our
service to customers </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">and&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
accelerated depreciation of fixed wireless assets</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. F</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ixed wireless assets </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">in the amount of Rp545
billion were </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">fully
depreciated </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">in connection with the termination of our fixed wireless business.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Personnel Expenses </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Personnel expenses increased by Rp2,109 billion, or
21.6%, from Rp9,776 billion in 2014 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">to&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> Rp11,885 billion (US$862 million) in 2015 due to a</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">n </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase
by</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> Rp</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">1,043&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">
billion, or </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">32.8</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">%&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> in </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">vacation pay, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">incentive</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> and other benefit expenses, in line with company&#8217;s
performance and</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> a</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">n increase in early retirement program expenses by</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> Rp</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">683&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> billion or 100%</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">T</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">his resulted in</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> increase in employees&#8217; income tax by Rp315 billion, or 23.9% from
Rp1,317 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">in 2014 to Rp1,632 billion in 2015.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">d.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Interconnection Expense</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Interconnection expense decreased by Rp1,307 billion,
or 26.7%, from Rp4,893 billion in 2014 to Rp3,586 billion (US$260 million) in
2015 primarily due to a decrease of Rp1,288 billion, or 35.4% in domestic
interconnection and access expenses</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">General and Administrative Expense</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">General and administrative expense</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increased
by Rp241 billion, or 6.1%, from Rp3,963 billion in 2014 to Rp4,204 billion
(US$305 million) in 2015 primarily due</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> to an increase in provision for impairment of receivables by Rp226
billion, or 28.8%</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">. &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">f.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Marketing Expense</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Marketing expenses increased by Rp183 billion, or
5.9%, from Rp3,092 billion in 2014 to Rp3,275 billion (US$238 million) in 2015
due to an increase in advertising and promotion expenses by Rp142 billion, or
5.9%, for the marketing of our products, mainly </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4G LTE and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">IndiHome&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Triple Play.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">g.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Loss on Foreign Exchange - net</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Loss </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">on
foreign exchange - net increased by Rp32 billion, from Rp14 billion in 2014 to
Rp46 billion</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> (US$3 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">million</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">)&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> in 2015. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">h.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other Expenses</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other expenses increased by Rp1,521 billion, or 384.1%
from Rp396 billion in 2014 to Rp1,917 billion (US$139 million) in 2015</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, due to increase in commitment and penalty
charge by Rp806 billion, mainly contributed by provisions for early termination
of the operating leases agreements related to restructuring of our fixed
wireless business which amounted to Rp666 billion</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, and o</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">thers
non-operating expense. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">4.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Operating Profit and Operating Profit Margin</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">As a result of the foregoing, operating profit
increased by Rp3,197 billion, or 11.0%, from Rp29,172 billion in 2014 to
Rp32,369 billion (US$2,348 million) in 2015. Operating profit margin decreased
from 32.5% in 2014 to 31.6% in 2015.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">5.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Profit before Income Tax
and Pre-Tax Profit Margin</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">As a result of the foregoing, profit before income tax
increased by Rp2,714 billion, or 9.5%, from Rp28,579 billion in 2014 to
Rp31,293 billion (US$2,270 million) in 2015. Pre</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">tax margin
decreased from 31.9% in 2014 to 30.5% in 2015.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">6.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Net Income Tax Expense</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Income tax expense increased by Rp682
billion, or 9.3%, from Rp7,341 billion in 2014 to Rp8,023 billion (US$582
million) in 2015, in line with the increase in profit before income tax.</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">7.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other Comprehensive Income
(Expenses) &#8211; Net</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other comprehensive income decreased
by Rp317 billion, or 39.1%, from Rp810 billion in 2014 to Rp493 billion (US$36
million) in 2015 </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">primarily
</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">due to</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> a decrease in defined benefit plan actuarial gains
by Rp417 billion or </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">5</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%, which </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">was partially </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">offset
</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">by&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> an increase in foreign currency
translation by Rp104 billion or </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">4</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">33</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3%.&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">8.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Net Comprehensive Income
for the Year</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Comprehensive income for the year
increased by Rp1,715 billion, or 7.8%, from Rp22,048 billion in 2014 to
Rp23,763 billion&#160; (US$1,724 million) in 2015.</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">9.</font></i><i><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Profit for
the Year Attributable to Owners of the Parent Company</font></i></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Profit for the year attributable to owners of the
parent company increased by Rp1,014 billion, or 7.0%, from Rp14,437 billion in
2014 to Rp15,451 billion in 2015.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">10.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Net Comprehensive Income for the Year Attributable to
Owners of the Parent Company</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Net comprehensive income for the year attributable to
owners of the parent company </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">increase</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">d by Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">712&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, or</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 4.7</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%, from Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">15,291&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
billion in 2014 to Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">16,003&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion in 2015.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">11.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Profit per Share</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Profit per share increased by Rp9.60, or 6.5%, from
Rp147.78 in 2014 to Rp157.38 in 2015</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Year ended December 31, 2014 compared to year ended December 31, 2013</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Revenues&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Total revenues increased by
Rp6,729 billion, or 8.1%, from Rp82,967 billion in 2013 to Rp89,696 billion in
2014. The increase was primarily contributed by data, internet and information
technology service revenues and cellular telephone revenues, and to a lesser
extent, other telecommunications revenues.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Cellular Telephone Revenues</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Cellular telephone revenues
increased by Rp2,152 billion, or 6.7%, from Rp32,138 billion in 2013 to
Rp34,290 billion in 2014 primarily due to an increase in usage charge. Usage
charges increased by Rp2,250 billion, or 7.3%, from Rp30,722 billion in 2013 to
Rp32,972 billion in 2014 due to an increase of 6.9% in both our prepaid and
postpaid subscribers and an increase in our local and long distance usage.
Revenues from features increased by Rp65 billion, or 9.5%, from Rp686 billion
in 2013 to Rp751 billion in 2014 due to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">an </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">increase in usage of features
by our subscribers. Monthly subscription charges decreased by Rp163 billion, or
22.3%, from Rp730 billion in 2013 to Rp567 billion in 2014.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our total cellular
telephone revenues accounted for 38.2% of our consolidated revenues for the
year ended December 31, 2014.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Fixed Lines Telephone Revenues</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Fixed lines telephone
revenues decreased by Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1,061&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">11.2</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%, from Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">9,496&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
billion in 2013 to Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">8,435&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion in 2014. The decrease in fixed line telephone
revenues was due to decrease in fixed wireline revenues by</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Rp430 billion or 5.1</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%, and fixed wireless revenues by</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Rp629 billion or 57.1</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%. Our fixed wireless revenues declined significantly
due to our planned termination of the service by the end of 2015 and our migration
strategy to encourage our fixed wireless customers to enter into plans operated
by Telkomsel.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Data, Internet and Information
Technology Service Revenues</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our data, internet and
information technology service revenues accounted for </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">42.2</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">% of our
consolidated revenues for the year ended December 31, 2014, compared to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">39.6</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%
for the year ended December 31, 2013. Data, internet and information technology
service revenues increased by Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4,931&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">15.0</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%, from Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">32,877&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
billion in 2013 to Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">37,808&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion in 2014. This increase was primarily due to
an increase in revenues from </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">non-cellul</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">r
internet, data communication and information technology services by</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">833&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">9.1</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> and cellular internet and data </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">by Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3,450&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">34.1</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> ,</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> which was
driven </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">primarily </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">by&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
broadband usage, including</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> an increase of
80.3% in Flash subscribers, from 17.3 million subscribers as of December 31,
2013 to 31.2 million subscribers as of December 31, 2014. SMS revenues
increased by Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">900&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6.9</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> from Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">13,134&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
billion in 2013 to Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">14,034&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion in 2014.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The increased was</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> partially</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
offset by </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">decreased in</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
revenues from</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Pay TV by Rp178
billion or 65.0% &#160;from Rp274</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
billion in 2013 to Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">96&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion in 2014.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">d.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Interconnection Revenues</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Interconnection revenues
decreased by Rp135 billion, or 2.8%, from Rp4,843 billion in 2013 to Rp4,708
billion in 2014 primarily due to a decrease in incoming calls to our
subscribers.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Network Revenues</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Network revenues increased
by Rp27 billion, or 2.2%, from Rp1,253 billion in 2013 to Rp1,280 billion in 2014
primarily due to an increase in our satellite transponder lease revenue by
Rp278 billion, or 70.9%, from Rp392 billion in 2013 to Rp670 billion in 2014 as
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">result of an increase in satellite transponder capacity lease by 18.4%
from 3,007 million Mhz in 2013 to 3,560 million MHz in 2014. This increase
was partially offset by a decrease in leased lines revenue by Rp251 billion, or
29.2%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">f.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other Telecommunications Revenues</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other telecommunications revenues
increased by Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">815&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">34.5</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%, from Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2,360&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
billion in 2013 to Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3,175&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion in 2014. The increase was primarily due to an
increase in </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">sales of handset</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> of Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">498&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">592.9</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">an increase in</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> tower </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">lease</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
revenues of Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">130 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">billion,
or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">22.8</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> and
call cente</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">r service</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">241&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
billion, or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">117.6</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The increase was partly offset primarily by a decrease
in </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">CPE and terminal by </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">39&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">39.0</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other Income</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other income decreased by
Rp1,505 billion, or 58.3%, from Rp2,581 billion in 2013 to Rp1,076 billion in
2014 as we had recognized a gain on the sale of 80% of our ownership in PT
Indonusa on 2013</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">3.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Expenses&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Total expenses increased by
Rp3,767 billion, or 6.5%, from Rp57,850 billion in 2013 to Rp61,617 billion in
2014. The increase in expenses was attributable primarily to increases in
operations, maintenance and telecommunication services and depreciation and
amortization.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Operations, Maintenance and Telecommunication Service
Expenses</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Operations, maintenance and
telecommunication service expenses increased by Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2,956 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">billion,
or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">15.3</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%, from Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">19,332
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">billion in 2013 to Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">22,288 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">billion
in 2014. The increase in operations, maintenance and telecommunication service
expenses was primarily attributable to the following:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbolmt lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8722;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Operations and maintenance
increased by Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2,169 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">billion, or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">22.5%</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, due to an increase in
expenses associated with network maintenance to improve our cellular </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">services</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbolmt lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8722;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Leased lines and CPE increased by
Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">318&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">72.3</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbolmt lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8722;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Cost of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">handset sold</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
increase</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> by Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">268 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">billion,
or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">175.2</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbolmt lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8722;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Con</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ession
fees and USO charges increased by Rp233 billion or 14.0%</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Depreciation and Amortization</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Depreciation and
amortization increased by Rp1,373 billion, or 8.7%, from Rp15,805 billion in
2013 to Rp17,178 billion in 2014, primarily due to an increase in depreciation
expense related to transmission installation and equipment as part of an effort
to improve our service to customers and impairment of assets in our fixed
wireless business of Rp805 billion. In 2014, we decided to cease our fixed
wireless business by no later than December 14, 2015. We assessed the
recoverable amount to be Rp549 billion as of December 31, 2014 and determined
that the assets for fixed wireless CGU were further impaired by Rp805 billion.
The recoverable amount </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">was&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> determined based on VIU calculation using the most
recent cash flow projection approved by management. The cash flow projection
included cash inflows from the continuing use of the assets during the
remaining service period and projected net cash flows to be received for the
disposal of the assets for fixed wireless CGU at the end of the service period.
Projected net cash flows to be received for the disposal of the assets were
determined based on cost approach, adjusted for physical, technological and
economic obsolescence. Management applied a pre-tax discount rate of 13.5%
derived from ours post-tax weighted average cost of capital and benchmarked to
externally available data. In addition, management also applied technological
and economic obsolescence rate of 30% based on the internal data, due to the
lack of comparable market data because of the nature of the assets. The
determination of VIU calculation is most sensitive to the technological and
economic obsolescence rate assumption. An increase in technological and economic
obsolescence rate to 40% would result in a further impairment of Rp70 billion.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Personnel Expenses</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Personnel expenses
decreased by Rp53 billion, or 0.5%, from Rp9,829 billion in 2013 to Rp9,776
billion in 2014 due to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">decrease in pension benefit cost by Rp345 billion, or
34.9%, and a decrease in post-employment health care benefit cost by Rp134 billion,
or 35.1%. The decrease was partially offset by an increase in salaries and
related benefits by Rp206 billion or 5.8% due to an increase in the number of
employee by 1.1% from 25,011 employees as of December 31, 2013 to 25,284
employees as of December 31, 2014. This resulted in an increase in employees&#8217;
income tax by Rp157 billion, or 13.5% from Rp1,160 billion in 2013 to Rp1,317
billion in 2014.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">d.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Interconnection Expenses</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Interconnection expenses
decreased by Rp34 billion, or 0.7%, from Rp4,927 billion in 2013 to Rp4,893
billion in 2014 primarily due to a decrease of Rp81 billion, or 2.2% in
domestic interconnection and access expense. This decrease was partially offset
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">by&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> an increase in international interconnection expense by Rp47 billion,
or 3.9%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">General and Administrative
Expenses</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">General and administrative
expense decreased by Rp192 billion, or 4.6%, from Rp4,155 billion in 2013 to
Rp3,963 billion in 2014 primarily due to a decreased in provision for
impairment of receivables by Rp805 billion, or 50.7%. This decrease was
partially offset </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">by </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">increase</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> in general expense by Rp292 billion, or 43.3%, other
general and administrative expenses by Rp122 billion, or 58.1% and training,
education and recruitment expenses by Rp116 billion, or 28.2%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">f.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Marketing Expenses</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Marketing expenses
increased by Rp48 billion, or 1.6%, from Rp3,044 billion in 2013 to Rp3,092
billion in 2014 due to an increase of Rp80 billion, or 15.1% in customer
education expenses primarily for our broadband service. The increase was partially
offset by </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">decrease in advertising and promotion expenses by Rp18
billion, or 0.7%, due to the selective use of media for promotion and increased
group synergy in marketing our products.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">g.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Loss on Foreign Exchange - net</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We posted loss on foreign
exchange - net Rp14 billion in 2014, lower than Rp249 billion in 2013, due to a
lower rate of US Dollar appreciation against the Rupiah, which appreciated by
1.7% in 2014 compared to 26.3% in 2013.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">h.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other Expenses</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other expenses decreased by
Rp84 billion, or 17.5%, from Rp480 billion in 2013 to Rp396 billion in 2014.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">4.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Operating Profit and Operating Profit Margin</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">As a result of the
foregoing, operating profit increased by Rp1,445 billion, or 5.2%, from
Rp27,727 billion in 2013 to Rp29,172 billion in 2014. Operating profit margin
decreased from 33.4% in 2013 to 32.5% in 2014.</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">5.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Profit before Income Tax and Pre-Tax Profit Margin</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">As a result of the
foregoing, profit before income tax increased by Rp1,549 billion, or 5.7%, from
Rp27,030 billion in 2013 to Rp28,579 billion in 2014. Pre-tax profit margin
decreased from 32.6% in 2013 to 31.9% in 2014.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">6.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Net Income Tax Expense</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Net income tax expense
increased by Rp441 billion, or 6.4%, from Rp6,900 billion in 2013 to Rp7,341
billion in 2014, in line with the increase in profit before income tax.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">7.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other Comprehensive Income (Expenses) &#8211; Net</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other comprehensive
income-net decreased by Rp4,305 billion, or 84.2%, from Rp5,115 billion in 2013
to Rp810 billion in 2014 due to a decrease in defined benefit plan actuarial
gain by Rp4,214 billion, or 84.3%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">8.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Net Comprehensive Income for the Year</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Net comprehensive income
for the year decreased by Rp3,197 billion, or 12.7%, from Rp25,245 billion in
2013 to Rp22,048 billion in 2014.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">9.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Profit for the Year Attributable to Owners of the
Parent Company</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Profit for the year
attributable to owners of the parent company increased by Rp391 billion, or
2.8%, from Rp14,046 billion in 2013 to Rp14,437 billion in 2014.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">10.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Net Comprehensive Income for the Year Attributable to
Owners of the Parent Company</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Net comprehensive income
for the year attributable to owners of the parent company decreased by Rp3,727
billion, or 19.6%, from Rp19,018 billion in 2013 to Rp15,291 billion in 2014.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">11.</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font></i><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Profit per Share</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Profit per share increased
by Rp2.01, or 1.4%, from Rp145.77 in 2013 to Rp147.78 in 2014.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Segment Overview</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We have four main operating segments, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">described in more details as follows</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">:&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our corporate segment provides
telecommunications services including interconnection, leased lines, satellite,
VSAT, contact center, broadband access, information technology services, data
and internet services to companies and institutions.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our home segment provides fixed
wireline telecommunications services, pay TV, data and internet services to
home customers.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our personal segment provides
mobile cellular and fixed wireless telecommunications to individual
customers.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our others segment provides
building management services.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">For more detailed
information regarding our segment information, see Note </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">35&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> to our
Consolidated Financial Statements. Our segment results for the year </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2013</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2014 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2015 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">were as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.06%;">
 <tr style="height:1.0pt;">
  <td rowspan=3 valign=top width=43% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Telkom's Results of
  Operation By Segment</font></b></p>
  </td>
 <td rowspan=3 valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=7 valign=bottom width=56% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Years Ended December 31,</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=28% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(US$ million)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Corporate</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Revenues</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">External
  revenues</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">17,041</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">18,763</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">21,072</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,528</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Inter-segmen revenues</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">8,549</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">10,652</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,347</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,041</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Total segment revenues</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">25,590</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">29,415</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">35,419</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,569</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Total segment expenses</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(20,375</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(22,575</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(28,305</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(2,053</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Segment results</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,215</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6,840</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7,114</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">516</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Depreciation and amortization</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(2,423</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(2,699</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(2,708</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(196</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Provision for impairment of
  receivables</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(994</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(184</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(560</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(41</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Home</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Revenues</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">External
  revenues</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6,669</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6,682</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7,319</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">531</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Inter-segmen
  revenues</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,794</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,667</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,352</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">316</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Total segment revenues</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9,463</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9,349</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">11,671</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">847</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Total segment expenses</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(8,885</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(8,894</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(11,411</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(828</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Segment results</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">578</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">455</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">260</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">19</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Depreciation and
  amortization</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(1,487</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(1,495</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(1,203</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(87</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Provision for impairment of
  receivables</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(390</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(467</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(297</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(22</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Personal</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Revenues</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">External
  revenues</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">59,028</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">64,000</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">73,766</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,351</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Inter-segment
  revenues</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,358</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,686</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,365</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">172</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Total segment revenues</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">61,386</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">66,686</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">76,131</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,523</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Total segment expenses</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(39,463</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(44,769</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(51,303</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(3,722</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Segment results</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">21,923</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">21,917</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">24,828</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,801</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Depreciation and
  amortization</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(11,234</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(12,071</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(14,531</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(1,054</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Impairment of assets</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(596</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(805</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Provision for impairment of
  receivables</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(202</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(133</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(148</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(11</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Other</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Revenues</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">External
  revenues</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">229</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">251</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">313</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">23</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Inter-segment
  revenues</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">909</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,632</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,943</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">141</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Total segment revenues</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,138</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,883</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,256</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">164</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Total segment expenses</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(1,008</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(1,718</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(2,040</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(148</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Segment results</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">130</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">165</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">216</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">16</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Depreciation and
  amortization</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(40</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(61</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(92</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=43% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Provision for impairment of
  receivables</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_77"></a><a name="_bclPageBorder77"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader77"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Year ended
December 31, 2015 compared to year ended December 31, 2014</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Corporate Segment</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Our corporate segment revenues
increased by Rp6,004 billion, or 20.4%, from Rp29,415 billion in 2014 to
Rp35,419 billion in 2015. The increase was primarily due to an increase in
network revenues by Rp4,284 billion, or 101.2%, as a result of increases in leased
line revenues by Rp4,144 billion, or 309.9% and transponder revenue by Rp252
billion or 10.1%. The increase was
partially offset by a decrease in international leased line by Rp119 billion or
85.1%. Data and internet revenues increased by Rp939 billion, or 10.5%, due to </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">an </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase in data communication
others revenues by Rp1,037 billion, or 318.4% which was partially offset by a
decrease in high speed internet revenues by Rp86 billion or 8.6%.
Interconnection revenues increased by Rp565 billion, or 11.1%, due to an
increase in international IDD OLO revenues by Rp360 billion, or 35.5% and an
increase in international IDD incoming revenues by Rp354 billion, or 16.0%. The
increase was </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">partially&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> offset by decreases of long distance
cellular revenues by Rp89 billion or 2.2% and other local&nbsp;by Rp68 billion or 29.9%. Others
telecommunications revenues increased by Rp418 billion, or 5.7%, due to an
increase in call center services revenues by Rp591 billion, or 40.4%. The
increase was </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">partially&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> offset by a decrease in revenues from CPE
and terminal by Rp225 billion or 24.3%, a decrease in fixed wireline by Rp212
billion or 5.6% due to a decrease in local usage revenues by Rp117 billion or
24.5%, long distance usage revenues by Rp53 billion or 12.3% and IDD 007 usage
revenues by Rp22 billion or 16.9%.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Our corporate
segment expenses increased by Rp5,730 billion, or 25.4%, from Rp22,575 billion
in 2014 to Rp28,305 billion in 2015, primarily due to an increase in operation,
maintenance and telecommunication services expenses by Rp3,467 billion, or
32.2% as a result of increases in operation and maintenance (O&amp;M) expenses
by Rp1,210 billion, or 57.9%, including increased cooperation expenses by Rp771
billion, or 27.2%, leased lines and CPE expenses by Rp716 billion, or 61.7%,
cost of IT services by Rp525 billion, or 146.8%, O&amp;M supporting facilities
expense by Rp130 billion or 36.0%, transportation expense by Rp65 billion or
7.3% and O&amp;M land and building expense by Rp46 billion or 14.4%.
Interconnection expenses increased by Rp779 billion, or 19.4%, as a result of
an increase in international IDD007 interconnection expenses by Rp530 billion,
or 28.1% and Telkom Global international interconnection expenses by Rp258
billion, or 95.8%. Personnel expense increased by Rp534 billion, or 14.9%, due
to an increase in early retirement program expenses by Rp246 billion or 100.0%,
bonuses expenses increased by Rp179 billion, or 31.7% and personnel expense
increased by Rp101 billion or 16.7%. Others expenses increased by Rp886 billion,
or 293.5%, due to increases inpenalty and commitment charge by Rp460 billion or
100.0%, income tax expenses by Rp117 billion, or 25,415.4%, others
non-operating expenses by Rp265 billion, or 127.3%, and tax expense by Rp33
billion or 82.9%. Marketing expense increased by Rp49 billion or 6.7% due to an
increase in advertising and promotion expenses by Rp43 billion or 10.2%.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:0in;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Home Segment</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Our home segment revenues
increased by Rp2,322 billion, or 24.8%, from Rp9,349 billion in 2014 to
Rp11,671 billion in 2015 mainly due to </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">an </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase
in data and internet revenues by Rp1,361 billion, or 32.3%, as a result of an
increase in data communication others by Rp722 billion, or 26.3%, increase in
Pay TV revenues by Rp341 billion, or 451.7%, in line with the increase in the
IndiHome subscribers more than 1 million subscribers, while high speed internet
revenues increased by Rp150 billion, or 4.0% and high speed internet monthly
subscription increased by Rp52 billion or 408.7%. Other telecommunication
revenues increased by Rp1,118 billion, or 164.6%, primarily due to </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">an </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase in sales of handset. The
increase was </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">partially&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> offset by a decrease in other revenue by
Rp49 billion or 21.9% and fixed wireline revenue by Rp25 billion or 0.6%.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Our home segment
expenses increased by Rp2,517 billion, or 28.3% from Rp8,894 billion in 2014 to
Rp11,411 billion in 2015. This increase was primarily due to an increase in
operation, maintenance and telecommunication services expenses by Rp1,932
billion, or 79.2%, due to an increase in terminal/handset expenses by Rp1,071
billion, or 258.4%, increase in cooperation expenses by Rp552 billion, or
349.6%, increase in leased lines and CPE expenses by Rp403 billion, or 322.2%,
which were partially offset by a decrease in insurance expense by Rp40 billion
or 33.4% and vehicle rent by Rp30
billion or 30.7%. Personnel expenses increased by Rp508 billion, or 15.4%, due
to an increase in early retirement
program expenses by Rp328 billion or 100.0%, bonuses expenses increased by
Rp231 billion, or 35.1%, net periodic post-retirement healthcare benefits
increased by Rp81 billion or 192.1% and partially offset by a decrease in net
periodic pension costs by Rp156 billion or 51.2%. Other expense increased by
Rp606 billion or 1,444.9% due to an increase in penalty and commitment charge
by Rp364 billion or 100.0% and others non-operating expense by Rp243 billion or
1,151.1%. The increase was partially offset by a decrease in general
administrative expense by Rp291 billion or 19.7% due to a decrease in provision
for impairment of receivables by Rp160 billion or 35.1% and training, education
and recruitment by Rp119 billion or 46.4%. While depreciation and amortization
expense decreased by Rp291 billion or 19.4%.</font></p>

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</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Personal Segment</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:6.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Our personal segment revenues
increased by Rp9,445 billion, or 14.2% from Rp66,686 billion in 2014 to
Rp76,131 billion in 2015, mainly due to an increase in data and internet
revenues by Rp7,083 billion, or 25.7%, due to
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">an </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase
in cellular data communication revenues by Rp6,015 billion, or 44.5%, in line
with the increase in Telkomsel Flash subscribers 40.3% from 31.2 million </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">as of December
31, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">2014 to 43.8 million </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">as of December
31, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">2015, payload data
increased by 109.6% to 492,245 TB in 2015. Cellular SMS revenues increased by
Rp1,195 billion, or 8.6% as a result of cluster based pricing implementation.
The increase is partially offset by </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">a </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">decrease
in SMS fixed wireless by Rp100 billion or 97.0%. Cellular revenues increased by
Rp3,088 billion, or 9.1%, due to </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">an </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase
in cellular commitment revenues by Rp2,083 billion, or 28.3%, in line with
increased cellular subscribers by 8.6% to 152.6 million in 2015, cellular
long-distance usage by Rp658 billion, or 7.0%, cellular feature revenues by
Rp286 billion, or 37.5%.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The increase was </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">partially&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> offset by a decrease in fixed wireless
revenue by Rp437 billion or 82.5% because of the termination of Flexi, decrease
in local used by Rp119 billion or 71.9%, long distance usage by Rp266 billion
or 89.4% and monthly subscription by Rp49 billion or 78.1%. The other revenues
decreased by Rp110 billion or 50.0% due to </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">a </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">decrease
in others non operating income.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Our personal segment expenses
increased by Rp6,534 billion, or 14.6% from Rp44,769 billion in 2014 to
Rp51,303 billion in 2015, primarily due to an increase in operation,
maintenance and telecommunication
services expenses by Rp4,540 billion, or 21.9%, due to the increase in manage
capacity service by Rp1,686 billion or 100.0%, increase in O&amp;M power supply
expense by Rp906 billion, or 43.8% in line with the growth in the BTSs of
Telkomsel by 20.9% to 103,289 units in 2015, and O&amp;M transport expenses
increased by Rp749 billion, or 16.2%, O&amp;M radio base station increased by
Rp1,024 billion, or 24% and rental expense increased by Rp210 billion or 23.2%.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Depreciation and amortization
expenses increased by Rp2,460 billion, or 12.8%, mainly due to an increase in
depreciation of transmission installation and equipment by Rp1,771 billion, or
21.8%, increase in amortization by Rp226 billion, or 67.3%, and increases in
depreciation of leased assets by Rp216 billion or 34.1%, increase in
depreciation of building by Rp20 billion or 76.6%, increase in depreciation of
cable network by Rp55 billion or 103.9%, increase in depreciation switching by
Rp13 billion or 1.1%, increase in depreciation of leasehold by Rp17 billion or
34.5% and increase in depreciation of vehicles by Rp3 billion or 11.4%. Personnel
expenses increased by Rp1,091 billion, or 39.9%, primarily due to an increase
in bonuses expenses by Rp497 billion, or 87.2%, increase in employees income
tax expenses by Rp200 billion, or 44.6%, increase in early retirement program
expenses by Rp216 billion or 100% and increase in long service award increased
by Rp190 billion or 165.5%.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The increase was&nbsp;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">partially</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;offset by a decrease in
interconnection expenses by Rp1,481 billion, or 31.3%, due to a decrease in
Blackberry cooperation expenses by Rp1,078 billion, or 69%, in line with
decreased of Blackberry subscribers by 31.7% to 4.0 million subscribers as of
December 31, 2015 and a decrease in cellular to IDD interconnection expense by
Rp331 billion, or 54.1%. General administration expense decreased by Rp66
billion or 4.1% due to&nbsp;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">a&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">decrease
in collection expense by Rp270 billion or 38.3%, partially offset by increased
professional fees by Rp118 billion or 98.7%, training, education and
recruitment by Rp28 billion or 40.6%, social contribution by Rp22 billion or
83.6%&nbsp;&nbsp;and provision for
impairment of receivables by Rp15 billion or 11.5%. Foreign exchange loss
decreased by Rp55 billion or 53.5%.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:0in;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:6.0pt;letter-spacing:.1pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other Segment</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Our other segment revenues
increased by Rp373 billion, or 19.8%, from Rp1,883 billion in 2014 to Rp2,256
billion in 2015, mainly due to an increase in leased revenues by Rp225 billion,
or 20.8%, due to&nbsp;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">an&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase
in building maintenance revenue by Rp193 billion, or 20.5% and an increase in
building leased revenues by Rp28 billion, or 22.6%. Other telecommunication
increased by Rp148 billion or 18.4% due to others revenues increased by Rp72
billion, or 329.1%, transport management service revenues increased by Rp50
billion, or 40.1%, and security service revenues increased by Rp44 billion, or
13.6%. The increase was&nbsp;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">partially</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">offset by a decrease in project management
revenue by Rp30 billion or 13.7%.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Our other segment
expenses increased by Rp322 billion, or 18.7%, from Rp1,718 billion in 2014 to
Rp2,040 billion in 2015, mainly due to an increase in operation, maintenance
and telecommunication service expense by Rp246 billion, or 16.7%, due to an
increase in cooperation expenses by Rp112 billion, or 71.7%, vehicles rental
and supporting facilities by Rp42 billion, or 43.9%, electricity, gas and water
expenses by Rp44 billion, or 6.8%, and security operational expenses by Rp44
billion, or 15.7%.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>




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</DIV>
<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Depreciation
expenses increased by Rp35 billion, or 67.2%, mainly due to an increase in
depreciation of power supply, depreciation of vehicles, and depreciation of
building. General and administration expense increased by Rp20 billion, or
53.6%, primarily due to an increase in provision for impairment of receivables
by Rp5 billion, or 2,793.9%, meeting expenses by Rp4 billion, or 155.7%, and
professional fees expenses by Rp3 billion, or 224.0%. Personnel expenses
increased by Rp16 billion, or 12.9%, due to an increase in outsourcing expenses
by Rp6 billion, or 11.9%, bonuses expenses by Rp4 billion, or 61.9%, pension
assistance expense by Rp3 billion, or 158.9% and incentives expenses by Rp2
billion, or 20.8%, meanwhile marketing expenses increased by Rp2 billion, or
19.7%.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman" lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Year ended December 31, 2014 compared to year ended December 31, 2013.</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Corporate
Segment</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our
corporate segment revenues increase</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> by Rp3,825 billion, or 14.9%, from Rp25,590 billion
in 2013 to Rp29,415 billion in 2014. The increase was primarily due to an
increase in others telecommunications by Rp1</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,829&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, or
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">40</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%, reflecting an increase in tower lease revenue by
Rp678 billion, or 34.1%, in line with growth in the number of BTSs by 31.2% and
tower tenants by 31.4%, an increase in call center service revenue by Rp429
billion, or 41.5%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">an increase in management service revenue by Rp391
billion, or 1,261.7%, and an increase in E-payment revenue by to Rp341 billion,
or 180.7%. Network revenue increased by Rp682 billion, or 19.5%, due to an
increase in transponder revenue by Rp805 billion, or 48.5%, which </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">was </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">partially
offset by a decrease</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> in</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> leased line revenue Rp129.4 billion, or 8.0%. Data
and internet revenue increased by Rp1,001 billion, or 12.5%, due to an increase
in Astinet revenue of Rp391 billion, or 71.2%, and an incr</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">e</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ase in Metro E
revenue by Rp430 billion or 43.3%. Interconnection revenues increased by Rp317
billion, or 6.7%, due to an increase in our wholesale voice revenue by Rp146
billion, or 25.1%, an increase in SLI 007 incoming interconnection revenue by
Rp91 billion, or 6.1%, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">an increase in local cellular by Rp59 billion or 7.4%.
</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our
corporate segment expenses increase</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> by Rp2,200 billion, or 10.8%, from Rp20,375 billion
in 2013 to Rp22,575 billion in 2014, primarily due to an increase of Rp1,220
billion, or 12.9% in operating and maintenance expenses as a result of higher
tower rent expenses which increased by Rp599 billion, or 129.2%, site operating
expense which increased by Rp301 billion, and managed services expense which
increased by Rp292 billion or 1,928.1%. Depreciation expense increased by Rp322
billion, or 14.7% due to an increase in depreciation of equipment and installation
of transmission by Rp187 billion, or 33.7% and an increase in depreciation
expense of power supply by Rp115 billion, or 50.7%. Interconnection expenses
increased by Rp178 billion, or 4.6%, and foreign exchange gain decreased by
Rp616 billion, or 92.5%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Home
Segment</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our
home segment revenues decrease</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> by Rp114 billion, or 1.2%, from Rp9,463 billion in
2013 to Rp9,349 billion in 2014 primarily due to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> decline in
wireline revenues by Rp302 billion, or 6.5% as a result of a decrease in local
usage. This decrease was partially offset by the increase in data and internet
revenues by Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">57&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%, due to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">an&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
increased in speedy revenue in line with customer growth from 3.0 million as of
December 31, 2013 to 3.4 million, or 12.8%, in as of December 31, 2014. Network
revenue increased Rp84 billion, or 2,504.7%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our
home segment expenses increased by Rp9 billion, or 0.1% from Rp8,885 billion in
2013 to Rp8,894 billion in 2014, primarily due to a decrease in other income by
Rp739 billion, or 77.3%. This increase was partially offset by a decrease in
operating expense by Rp266 billion, or 2.9% and an increase in gain on foreign
exchange by Rp418 billion, or 109.7%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Personal
Segment</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our
personal segment revenues increase</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> by Rp5,300 billion, or 8.6% from Rp61,386 billion in
2013 to Rp66,686 billion in 2014, primarily due to an increase in data and
internet revenues (including SMS) by Rp4,270 billion, or 18.3%, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">primarily due to an</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> increase in cellular </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">internet </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">data by
Rp3,538 billion, or 34.1%, due to a 48.3% increase in the number of data user
subscribers to 67.9 million as of December 31, 2014 (including pay as you use)
and a 234,862 TB, or 6.3%, increase in payload data traffic. SMS cellular
revenue increased Rp1,017 billion, or 7.9%. Revenue from mobile cellular
increased by Rp2,035 billion, or 6.3%, due to an increase in monthly cellular
subscription revenue by Rp1,200 billion, or 17.8%, an increase in mobile long
distance revenues by Rp488 billion, or 5.4%, and an increase in local cellular
revenues by Rp381 billion, or 2.7%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,
supported </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">by the increase in mobile
subscriber by 7.0% from 131.4 billion in 2013 to 140.6 billion in 2014.
Chargeable MoU increased by 15.0% to 161.4 billion minutes in 2014. Network
revenue increase Rp215 billion, or 48.9% due to an increase in leased line
collocation. This increases were partially offset by a decrease in fixed
wireless revenue Rp468 billion, or 46.9%, other telecommunication revenue Rp687
billion, or 135.3%, and interconnection revenue Rp64 billion, or 1.6%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our
personal segment expenses increased by Rp5,306 billion, or 13.4% from Rp39,463
billion in 2013 to Rp44,769 billion in 2014, primarily due to an increase in
operation and maintenance expenses by Rp4,193 billion, or 25.4%, due to an
increase of antenna and tower expense by Rp1,014 billion, or 40.8%, and an
increase in radio base station expense by Rp447 billion, or 11.7%, due to the
growth in the number of BTSs by 22.3% from 69,864 unit as of December 31, 2013 to
85,420 units as of December 31, 2014. Leased line expense also increased by
Rp799 billion, or 8,027.4%, satellite transmission expense increased by Rp411
billion, or 9,724.6%, and O&amp;M personnel outsourcing expense increased by
Rp432 billion. Land and buildings expenses increased by Rp270 billion, or
65.5%, in line with the increase in the number of BTS and GraPARI </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">centers</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.
USO expense increased by Rp223 billion, or 29.4%. Operating and maintenance
supporting facilities increased by Rp181 billion, or 6.6%, rental expense
increased by Rp159 billion, or 21.3%, radio frequency usage charges increased
by Rp158 billion, or 4.7%, and operating and maintenance network increased by
Rp93 billion, or 2,657.8%. Depreciation expense increased by Rp964 billion, or
8.3%, due to the increase in depreciation of equipment and installation of
transmission by Rp1,279 billion, or 18.6%, which were partially offset by a
decreased in depreciation expense lease assets - equipment and installations
transmission by Rp264 billion, or 29.5%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other
Segment</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our
other segment revenues increase</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> by Rp745 billion, or 65.5%, from Rp1,138 billion in
2013 to Rp1,883 billion in 2014 primarily due to an increase in building
management revenue by Rp499 billion, or 112.6%, due to an increase in building
area leased by 5.5%, an increase in transport management services revenue by
Rp66 billion, or 116.8%, an increase in security services revenue by Rp55
billion, or 20.6%, an increase in </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">project
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">management revenue by Rp50 billion, or
29.6%, and an increase in property development revenue by Rp44 billion, or
62.1%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our
other segment expenses increase</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> by Rp710 billion, or 70.4%, from Rp1,008 billion in
2013 to Rp1,718 billion in 2014 primarily due to an increase in operating and
maintenance expense by Rp653 billion, or 79.0%, primarily due to an increase in
electric costs by Rp495 billion, or 345.8%, an increase in security services
expenses by Rp41 billion, or 17.2%, due to the addition of personnel and salary
increases as regional minimum wage increased, an increase in transport
management expense by Rp38 billion, or 321.7%, and an increase in personnel
expenses by Rp27 billion, or 28.7%, due to an increase in outsourcing expense.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">B.</font></b><b><font face="times new roman" lang=X-NONE style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">LIQUIDITY&nbsp;</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">Liquidity Sources</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">The main source of our
corporate liquidity is cash provided by operating activities and long-term debt
through the capital markets as well as long-term and short-term loans through
bank facilities. We divide our liquidity sources into internal and external
liquidity.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">A.</font></b><b><font face="times new roman" lang=X-NONE style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">Internal
Liquidity Sources</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;">To fulfill our obligations we rely primarily on our internal liquidity. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">A</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;">s of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2015</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;">, we had </font><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">Rp28,117 </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;">billion in cash and cash equivalents available</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, an
increase of&#160; Rp10,445 billion compared to Rp17,672 billion as of December 31,
2014</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;">. &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;">Cash receipts </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">from&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> revenues comprised </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;">primarily </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">cash
receipts from revenue f</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ro</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">m&nbsp;</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;">
customer</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, which</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;"> amounted to Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">98,002 billion</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> and</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> are
used for payment of operati</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">ng&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> expenses, acquisition of property and equipment, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">intangible assets, long-term investment and
business, placement in time deposits, payment of cash dividen</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s and
repayment of loans and other borrowings. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;">Our internal liquidity
strength </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">is </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;">reflected in our current ratio, which we calculate as current assets divided by current liabilities</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. As
of December 31, 2015, our current ratio was </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;">to </font><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">135.3%
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">compared to </font><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">106.1%&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> as of December 31, 2014.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">B.</font></b><b><font face="times new roman" lang=X-NONE style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">External
Liquidity Sources</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">Our primary external sources of liquidity are short and long-term bank loans, bonds and notes payable, and two-step
loans. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">In &nbsp;</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">&#160;2015, we used external liquidity </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">from
</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">loans&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> and other borrowing</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;"> of Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">20,561&nbsp;</font><font face="Times New Roman" lang=NO-BOK style="font-size:10.0pt;line-height:normal;"> billion</font><font face="Times New Roman" lang=IN style="font-size:11.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">C.</font></b><b><font face="times new roman" lang=X-NONE style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">External </font></b><b><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">Outstanding Liquidity Sources</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">As of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2015</font><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">,
we had undrawn loan facilities which include the following sources of unused
liquidity:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=SV style="font-size:10.0pt;">-</font><font face="times new roman" lang=SV style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">BNI
loan facility in the amount of Rp</font><font face="times new roman" lang=IN style="font-size:10.0pt;">2,572&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> billion</font><font face="times new roman" lang=SV style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=SV style="font-size:10.0pt;">-</font><font face="times new roman" lang=SV style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Bank
CIMB Niaga loan facility in the amount of Rp</font><font face="times new roman" lang=IN style="font-size:10.0pt;">582&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> billion</font><font face="times new roman" lang=SV style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=SV style="font-size:10.0pt;">-</font><font face="times new roman" lang=SV style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=IN style="font-size:10.0pt;">Bank
ANZ</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">
loan facility in the amount of Rp</font><font face="times new roman" lang=IN style="font-size:10.0pt;">410&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> billion</font><font face="times new roman" lang=SV style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=SV style="font-size:10.0pt;">-</font><font face="times new roman" lang=SV style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=IN style="font-size:10.0pt;">The
Bank of Tokyo Mitsubishi UFJ, Ltd</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> loan facility in the amount o</font><font face="times new roman" lang=SV style="font-size:10.0pt;">f </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Rp</font><font face="times new roman" lang=IN style="font-size:10.0pt;">380&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> billion</font><font face="times new roman" lang=SV style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=SV style="font-size:10.0pt;">-</font><font face="times new roman" lang=SV style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=IN style="font-size:10.0pt;">PT
Bank Sumitomo Mitsui Indonesia</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> loan facility in the amount of Rp</font><font face="times new roman" lang=IN style="font-size:10.0pt;">380&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> billion</font><font face="times new roman" lang=SV style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=SV style="font-size:10.0pt;">-</font><font face="times new roman" lang=SV style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">B</font><font face="times new roman" lang=IN style="font-size:10.0pt;">ank
Mandiri</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">
loan facility in the amount of Rp</font><font face="times new roman" lang=IN style="font-size:10.0pt;">75&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> billion</font><font face="times new roman" lang=SV style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=SV style="font-size:10.0pt;">-</font><font face="times new roman" lang=SV style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">B</font><font face="times new roman" lang=IN style="font-size:10.0pt;">ank </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">R</font><font face="times new roman" lang=IN style="font-size:10.0pt;">akyat </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">I</font><font face="times new roman" lang=IN style="font-size:10.0pt;">ndonesia&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> loan facility
in the amount of Rp</font><font face="times new roman" lang=IN style="font-size:10.0pt;">42&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> billion</font><font face="times new roman" lang=SV style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=SV style="font-size:10.0pt;">-</font><font face="times new roman" lang=SV style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Bank
Ekonomi Raharja loan facility in the amount of Rp</font><font face="times new roman" lang=IN style="font-size:10.0pt;">41&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> billion</font><font face="times new roman" lang=SV style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=SV style="font-size:10.0pt;">-</font><font face="times new roman" lang=SV style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">B</font><font face="times new roman" lang=IN style="font-size:10.0pt;">ank Syariah
Mandiri</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">
loan facility in the amount of Rp</font><font face="times new roman" lang=IN style="font-size:10.0pt;">346&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> million</font><font face="times new roman" lang=SV style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=SV style="font-size:10.0pt;">-</font><font face="times new roman" lang=SV style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Syndicated
loan facility of BNI, BRI and Bank Mandiri in the amount of Rp</font><font face="times new roman" lang=IN style="font-size:10.0pt;">103 m</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">illion.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Net Cash Flows</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The following table
sets out information concerning our consolidated cash flows, as set out in (and
prepared on the same basis as) our Consolidated Financial Statements:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:2.85pt;">
  <td rowspan=3 valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=7 valign=bottom width=65% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Years Ended December 31,</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:2.85pt;">
  <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=32% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:2.85pt;">
  <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(US$ million)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:2.85pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Net cash flows:</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:2.85pt;">
  <td valign=bottom width=35% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">provided
  by operating activities</font></p>
  </td>
 <td valign=bottom width=15% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">36,574</font></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">37,736</font></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">43,669</font></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,168</font></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:2.85pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">used
  in investing activities</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(22,702</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(24,748</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(27,421</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(1,989</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:2.85pt;">
  <td valign=bottom width=35% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">used
  in financing activities</font></p>
  </td>
 <td valign=bottom width=15% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(13,327</font></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(10,083</font></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(6,407</font></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=15% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(465</font></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:2.85pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Net increase in cash and
  cash equivalents</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">545</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,905</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">9,841</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">714</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:2.85pt;">
  <td valign=bottom width=35% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Effect of exchange rate
  changes on cash and cash equivalents</font></p>
  </td>
 <td valign=bottom width=15% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,039</font></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">71</font></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">604</font></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">44</font></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:2.85pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Cash and cash equivalents at
  beginning of year</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">13,118</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,696</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">17,672</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,282</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:2.85pt;">
  <td valign=bottom width=35% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Ending balance of disposed
  subsidiary</font></p>
  </td>
 <td valign=bottom width=15% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">(6</font></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:2.85pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Cash and cash equivalents at
  end of year</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,696</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">17,672</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">28,117</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,040</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:2.85pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">Year ended December
31, 2015
compared to year ended December 31, 2014</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">As of December 31, 2015,
total cash and cash equivalent amounted to Rp28,117 billion, increase</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">d&nbsp;</font><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;"> by
Rp10,445 billion, or 59.1% compared to 2014.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">In 2015, operating
activity accounted for the largest cash receipts Rp102,663
billion, or 82.7%, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">followed by financing activity
amounted to Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">20,634&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, or</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 16.6%</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and investing activity
amounted to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp906&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, or</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 0.7</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In total, cash
receipts increased by </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp13,859 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">billion, or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">12.6%&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> compared to 2014.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Cash used
for operating activities amounted to Rp58,994 billion, or 51.6% of total cash expenditures in 2015. Cash used in investment activities
amounted to Rp28,327 billion, or 24.8% of
total cash expenditures in 2015 and financing activities amounted to Rp27,041 billion, or 23.6% of total cash expenditures in 2015</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. Compared to 2014, cash disbursement</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> in 2015</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
increase</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> by </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp6,923&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6.4%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">Cash Flows from
Operating Activities</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Net cash provided by operating activities in 2015 was Rp</font><font color=windowtext face="Times New Roman" lang=SV style="font-size:10.0pt;">43,669 billion</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> (US$</font><font color=windowtext face="Times New Roman" lang=SV style="font-size:10.0pt;">3,168&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> million) compared to Rp</font><font color=windowtext face="Times New Roman" lang=SV style="font-size:10.0pt;">37,736 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion in 2014. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Cash receipts from operating activities amounted to Rp102,663
billion, increase by </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp12,300
</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion, or </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">13.6% </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">compared to 2014. The cash receipts
from operating activities c</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">a</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">me
from:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Cash receipts from customers </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">and other operator </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">amounted to </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp100,702&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> billion, </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">which </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">d&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> by </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp11,575 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion, or </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">13.0% compared to 2014.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">I</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">nterest income received </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">amounted to </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp1,386 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion, </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">which </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">d
by Rp150 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">, </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">or&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">
12.1% compared to 2014</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Cash disbursements from operating activities amounted to
Rp58,994 billion</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">
in 2015</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">which </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">d&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> by </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp6,367
</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion, or </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">12.1% </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">compared to 2014. Cash disbursements </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">included primarily the
following</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">:&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Cash disbursements for expenses
amounted to </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp35,922&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> billion, </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">which </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">d&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> by </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp2,798 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion, or </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">8.4% compared to 2014</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Cash disbursements for employees amounted to </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp10,940 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion,
</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">which </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">d by Rp1,346 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">, </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">or&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">
14.0% compared to 2014</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Payment for </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">corporate and final </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">income tax</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">es&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> amounted by </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp9,299 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">, which </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">d by Rp1,863 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">, </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">or&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">
25.1% compared to 2014</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Cash Flows from
Investing Activities</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Net cash flows used
in investing activities in 2015 was Rp27,421 billion (US$1,989 million)
compared to Rp24,748 billion in 2014. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Cash receipts from investing activities amounted to Rp906
billion</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> in 2015</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> which</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> decrease</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">d&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> by </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp6,006 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion, or </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">86.9% </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">compared to 2014. The cash receipts from investing
activities c</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">a</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">me from:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">P</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">roceeds
from sale of property and equipment</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
amounted to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp733&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
which</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> increase</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d by Rp232 billion, or 46.3% compared to 2014</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Claim for insurance amounted to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp119 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">billion</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, which </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">decrease</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d by Rp93 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">billion or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">43.9</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">%&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> compared to 2014</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Cash disbursements from investing activities amounted to
Rp28,327 billion</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">
in 2015</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, a decrease by </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp3,333 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion, or </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">10.5% </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">compared to 2014. Cash disbursements were used for:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Acquisition of property and equipment
amounted to </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp26,499
</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">, which </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">d by Rp1,701 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">, </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">or&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">
6.9% compared to 2014.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Acquisition of intangible assets
amounted to </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp1,439
</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">, which </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">d by Rp111 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">, </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">or&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">
8.4% compared to 2014.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Placements in time deposit
amounted to Rp1</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">05&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> billion</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Cash Flows from
Financing Activities</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Net cash flows used
in financing activities in 2015 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">was
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Rp6,407 billion (US$465 million)</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
compared </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">with </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Rp10,083 billion in 2014. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Cash receipts from financing activities amounted to </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp20,634 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion, increase by </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp7,565 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion, or </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">57.9% </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">compared to 2014. The cash receipts from financing
activities c</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">a</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">me from:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Proceeds from long-term bank loan</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">s&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> amounted to </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp10,698 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion,&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> which</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> increase by</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> Rp4,072 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion, or </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">61.5%&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
compared </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">to&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> 2014.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Proceed</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">s&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> from short-term amounted
to </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp2,558 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion,&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> which</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> decrease</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">d by
Rp1,022 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">, </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">or&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">
28.5%</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> compared to 2014.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Proceed</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">s&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> from </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">bonds&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
amounted to </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp6,985
</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Proceed</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">s&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> from sale of treasury stock amounted to </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp68 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Cash disbursements from financing activities amounted to
Rp27,041 billion,</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">
which</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> increase</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">d&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> by </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp3,889 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion, or </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">16.8% </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">compared to 2014. Cash disbursements </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">included primarily the
following:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Cash dividen</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">ds&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> paid to the Company&#8217;s stockholders and to non-controlling
stockholders of subsidiaries
amounted to </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp8,783 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion and </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp7,831 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Repayment two step and bank loan
amounted Rp4,749 billion,</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> which</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
increase</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">d by</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> Rp211 billion, or 4.6% compared to 2014.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Repayment of short-term amounted to </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp3,987 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion,
</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">which </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">decrease</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">d by Rp1,740 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">, </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">or&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">
77.4% </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">compared to 2014.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font color=windowtext face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font><font color=windowtext face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Payment for bonds amounted to </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Rp1,005 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">Year ended December 31, 2014 compared to
year ended December 31, 2013</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">In 2014, operating activity
accounted for the largest cash receipts Rp90,363 billion, or 8</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">1.9</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">% of
total, an increase compared to Rp82,768 billion in 2013, in line with the
increasing receipts from customers. Proceeds from financing activities amounted
to Rp13,069 billion and proceeds from investment activities amounted to Rp6,912
billion in 2014 compared to Rp5,956 billion and Rp1,654 billion in 2013. This
increase came primarily from time deposits and bank loans</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">The majority of cash used for
operating activities amounted to Rp52,627 billion, or 49</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.0</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">% of
total expenditure in the year 2014 for employee, operating and maintenance,
followed by expenditures for investment activities amounted to Rp31,660
billion, or 29</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.5</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">%, mostly for the purchase of property and equipment,
and financing activities amounted to Rp23,152 billion, or 2</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">1.5</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">% for
the payment of cash dividends and bank loans.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">Cash Flows from
Operating Activities</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></i></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">Net cash provided by operating activities in 2014 was
Rp37,736 billion (US$3,047 million) compared to Rp36,574 billion in 2013. The
increase was due to an increase of Rp7,593 billion, or 9.3%, in cash receipts
from customers and other operators and an increase of Rp404 billion, or 48.6%,
in cash receipts from interest income. This was partially offset by an increase
of cash payments for expenses of Rp5,684 billion, or 20.7%, cash payments for
taxes Rp555 billion, or 7.5%, and cash payment for interest costs of Rp435
billion, or 29.5%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">Cash Flows from
Investing Activities</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></i></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">Net cash flows used in investing activities in 2014
was Rp24,748 billion (US$1,999 million) compared to Rp22,702 billion in 2013.
This increase was primarily due to an increase of Rp5,845 billion, or 28.8%, in
acquisitions of property and equipment and intangible assets, increase in
escrow account by Rp2,121 billion, or 100%, Rp1,467 billion, or 7,335.0%, in
our acquisition of long-term investment, and increase in advances for purchases
of property and equipment by Rp1,033 billion, or 133.3%. This was partially
offset by an increase of Rp8,466 billion or 370.0% on our net proceeds from
time deposits.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">Cash Flows from
Financing Activities</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=X-NONE style="font-size:10.0pt;">Net cash flows used in
financing activities was Rp10,083 billion (US$814 million) in 2014 compared to
Rp13,327 billion in 2013. This decrease was primarily due to an increase in
proceeds from loans and other borrowings by Rp6,916 billion, or 195.5%. This
was partially offset by an increase of Rp2,384 billion, or 18.3%, in cash
dividends paid to our stockholders and an increase of Rp1,485 billion, or
23.8%, in payments for loans and other borrowings.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">Current
Assets</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">As of December 31, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2015, our</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;"> current assets were </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Rp</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">47,912
billion</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> (US$</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">3,476 million</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">)
compare</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> to Rp</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">34,294
billion</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> as of December 31, 2014. The </font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">increase&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
in current assets was mainly due to:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">an </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">increase </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">in
our cash and cash equivalents Rp10,445 billion, or 59.1% primarily in time
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">deposit</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">an increase in prepaid </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">taxes of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;Rp1,504
billion, or 130.4%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">an increase in our advances and
prepaid expenses</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> of</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Rp1,106 billion, or 23.4% </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">an increase in </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">trade and other receivables of</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Rp492 billion, or 6.7%.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">Current
Liabilities</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">Current liabilities were </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Rp</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">35,413 billion</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> (US$</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2,569&nbsp;</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;"> million</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">)
a</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">s of December 31, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2015 and Rp</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">32,318
billion</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> a</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">s of December 31, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2014.
&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">This
</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">increase&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> was primarily due to: </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">an increase of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp3,036 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">billion,
or 58.3 %</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> in accrued expenses;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">an increase of Rp1,808 billion or
14.5%</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> in trade</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
and other</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> payable</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">an&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> increase of Rp596 billion, or 68.1%, in other tax
liabilities;</font><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">an&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> increase of Rp397 billion, or 10.0%, in unearned
income;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">an&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> increase of Rp301 billion, or 20.1%, in current
income tax liabilities, and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">an&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> increase of Rp222 billion, or 38.1%, in advances from
customer and supplier.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">This
increase was partially offset by a decrease in current maturities on long-term
liabilities</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> of</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Rp2,057 billion, or 34.9</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">%&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and short-term
bank loan</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s of</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Rp1,208 billion, or 66.7%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Working
Capital</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Net
working capital, calculated as the difference between current assets and current
liabilities, amounted to Rp</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;">1,976 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion as of December 31, 2014 and Rp</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;">12,499 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion
(US$</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;">907 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">million) as of December 31, 2015. The increase in net
working capital was primarily due to:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">An increase in cash and cash
equivalent</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:.25pt;">Rp10,445&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> billion</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">A</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">n increase in prepaid</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> other</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> taxes </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:.25pt;">Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">1,504
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">A</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">n increase in advance and prepaid expenses </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">of Rp1,106 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">A&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> decrease </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">in&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> current maturities of long-term liabilities</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> of Rp2,057 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">A&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> decrease </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">in&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> short-term bank loans</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> of Rp1,208 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">billion</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">; and offset by</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=IN style="font-size:10.0pt;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">An </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">
in </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">accrued expenses</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> of Rp3,036 billion; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=IN style="font-size:10.0pt;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">An </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase in </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:.25pt;">trade and other payables </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:.25pt;">Rp1,808 billion</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=IN style="font-size:10.0pt;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">An </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">increase </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:.25pt;">in other t</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.25pt;">axes&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:.25pt;"> liabilities</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> of Rp596</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:.25pt;"> billio</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.25pt;">n</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=IN style="font-size:10.0pt;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">An increase in unearned
income of Rp397 billion.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We believe that our
working capital is sufficient for our present requirements. We expect that our
working capital requirements will continue to be addressed by various funding
sources, including cash from operating activities and bank loans.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:3.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">CAPITAL STRUCTURE</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our capital structure
as of December 31, 2015 is described as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=61% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Amount (Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Portion (%)</font></b></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=61% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Short-term Debt</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">602</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.6</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=61% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Long-term Debt</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">34,010</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">31.0</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=61% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Total
  Debt</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">34,612</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">31.6</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=61% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Equity attributable to
  owners</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">74,934</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">68.4</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=61% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">109,546</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">100.0</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=5 valign=top width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:8.0pt;">(1) The amounts as of December 31, 2013, 2014 and
  2015</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;"> were</font><font face="Times New Roman" style="font-size:8.0pt;"> translated into Rupiah at Rp12,170, Rp12,385 and
  Rp13,785 = US$1, respectively, being the Reuters average rates for US Dollar
  at each of those dates</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=5 valign=top width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:8.0pt;">(2) The amounts as of December 31, 2013, 2014 and
  2015 translated into Rupiah at Rp115.77, Rp103.59 and Rp114.52 = Yen 1,
  respectively, being the Reuters average rates for Yen at each of those dates</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We take a
qualitative approach towards our capital structure and debt levels. Under our
syndicated loan agreement with BNI</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
and BCA</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, we are required to maintain a
debt to equity ratio </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">should not
exceed </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2.</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5 and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">debt
service coverage ratio </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">should not
be less than</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> 1.0</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> As of December
31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2015</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, our debt to equity ratio was </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">0.37 and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">our
debt service coverage ratio was </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.94
times,</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> indicating our strong ability to
meet our debt obligations. Our debt levels are primarily driven by our plans to
develop our existing and new strategic businesses. In determining our optimum
debt levels, we also consider our debt ratios with reference to regional peers
in the telecommunications industry.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">For
fu</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">r</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ther information on our Company&#8217;s management policies related to
capital, see Note </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">39&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> to our Consolidated Financial Statements.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Indebtedness</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Consolidated total
indebtedness (consisting of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">short-term
liabilities, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">long-term liabilities,
current maturities of long-term liabilities, short-term bank loans and deferred
consideration for business combinations) as of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2013</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2014 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2015 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">were as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=35% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=7 valign=bottom width=63% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">As of December 31,</font></b></p>
  </td>
 <td valign=top width=2% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=31% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(US$ million)</font></b></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Indonesia Rupiah<sup> </sup></font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">17,543</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">20,013</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">31,04</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,252</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">US Dollar<sup>1&nbsp;</sup></font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,734</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,643</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,7</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">79&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">202</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Japanese Yen<sup>2&nbsp;</sup></font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">979</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">796</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">792</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">57</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total</font></b><sup><font face="Times New Roman" style="font-size:9.0pt;"> </font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">20,256</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">23,452</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">34,612</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,511</font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=9 valign=top width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:8.0pt;">(1) The amounts as of December 31, 2013, 2014 and
  2015</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;"> were</font><font face="Times New Roman" style="font-size:8.0pt;"> translated into Rupiah at Rp12,170, Rp12,385 and
  Rp13,785 = US$1, respectively, being the Reuters average rates for US Dollar
  at each of those dates</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=9 valign=top width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:8.0pt;">(2) The amounts as of December 31, 2013, 2014 and
  2015 translated into Rupiah at Rp115.77, Rp103.59 and Rp114.52 = Yen 1,
  respectively, being the Reuters average rates for Yen at each of those dates</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Of our total
indebtedness, as of December 31, 2015, </font><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4,</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">4</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">44&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,
</font><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">Rp12,719 billion, Rp7,171 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">billion and Rp10,278 billion were scheduled for
repayment in 2016, 2017-2018, 2019-2020 and thereafter, respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">For further
information on our Company&#8217;s indebtedness, see Notes</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 17 and 18</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> to our
Consolidated Financial Statements.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">CAPITAL
EXPENDITURES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In
2015, we incurred capital expenditures of Rp26,401 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">billion </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(US$1,915 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">million</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">).
Our capital expenditures are grouped into the following categories for planning
purposes:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Broadband services</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, which consist of broadband, IT, application and
content and service node; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Network infrastructure</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, which consists of core transmission network, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">m</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">etro-</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">e</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">thernet
and Regional Metro Junction (</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&#8220;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">RMJ</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&#8221;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">), </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">IP&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> backbone and satellite; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Optimizing legacy, for fixed line</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s; and</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Capex supports</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Of
our Rp26,401 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">billion </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">capital expenditure in 2015, Telkom</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">as
parent company</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> incurred capital expenditures of Rp9,641 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">billion (US$699 million)</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, Telkomsel incurred capital expenditures of Rp11,321 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">billion </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(US$821
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">million</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">) and our other subsidiaries incurred capital
expenditures of Rp5,439 b</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">illion </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(US$395 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">million</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">)</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. The
following table sets forth our capital expenditure breakdown between Telkom as
parent company, Telkomsel and our other subsidiaries for the periods indicated.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=35% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=7 valign=bottom width=65% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Years Ended December 31,</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=32% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">(US$ million)</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Telkom (parent
  company)</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">5,313</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">8,099</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">9,641</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">699</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Subsidiaries</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Telkomsel</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">15,662</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">13,002</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">11,321</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">821</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">3,923</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">3,560</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">5,439</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">395</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Subtotal for
  subsidiaries</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">19,585</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">16,562</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">16,760</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">1,216</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Total for Telkom
  Group</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">24,898</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">24,661</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">26,401</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">1,915</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Material Commitments for Capital Expenditures</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">As of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2015</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, we
had material commitments for capital expenditures under contractual
arrangements </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">totaling </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Rp1</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5,061&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, principally relating to procurement and
installation of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">data, internet
and information technology, cellular, switching network</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, transmission equipment and cable</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> network in Indonesia.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Capital Expenditures
  Committed under Contractual Agreement as of December 31, 2015</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:10.35pt;">
  <td rowspan=2 width=50% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.35pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Currencies</font></b></p>
  </td>
 <td rowspan=2 width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Amounts in Foreign Currencies (in millions)</font></b></p>
  </td>
 <td rowspan=2 width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td rowspan=2 width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Equivalent in Rupia</font></b><b><font face="Times New Roman" style="font-size:9.0pt;">h  &nbsp;</font></b></p>
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">(in </font></b><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">billions)&nbsp;</font></b></p>
  </td>
 <td rowspan=2 valign=top width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td height=14 style="height:10.35pt;">&nbsp;</td>
 </tr>
<tr style="height:10.35pt;">
  <td height=14 style="height:10.35pt;">&nbsp;</td>
 </tr>
<tr style="height:1.0pt;">
  <td width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Rupiah</font></p>
  </td>
 <td width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> -</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 10,648</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td height=1 style="height:1.0pt;">&nbsp;</td>
 </tr>
<tr style="height:1.0pt;">
  <td width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">US Dollar</font></p>
  </td>
 <td width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 320</font></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 4,410</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td height=1 style="height:1.0pt;">&nbsp;</td>
 </tr>
<tr style="height:1.0pt;">
  <td width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Euro</font></p>
  </td>
 <td width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 0.21</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">3</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td height=1 style="height:1.0pt;">&nbsp;</td>
 </tr>
<tr style="height:1.0pt;">
  <td width=50% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Total</font></b></p>
  </td>
 <td width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 15,061</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td height=1 style="height:1.0pt;">&nbsp;</td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:115%;">For a more
detailed discussion regarding our material commitments for capital
expenditures, see Note 36a to our Consolidated Financial Statements</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:115%;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Source of Funds</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We
have historically funded our capital expenditures primarily with cash generated
from operations. In 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, we expect that our capital expenditure to revenue
ratio will be approximately in the range of 25%-30%. We expect that the most
significant proportions </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">of
capital expenditure </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">will be allocated </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">to </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">broadband
services</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> with a portion of the increase allocated to our
subsidiaries. We expect to fund the above commitments with our internal and
external source of funds.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The
realization </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">and use of</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> future capital expenditures may differ from the
amounts indicated above due to various factors, including but not limited to
changes in the Indonesian and global economy, the Rupiah/US Dollar or other
applicable foreign exchange rates, the availability of supply or vendor or
other financing on terms acceptable to us, and also any technical or other
problems in the implementation.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Critical Accounting Policies, Estimates and Judgments</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">For a complete discussion of our critical accounting
policies, estimates and judgments, see Note </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> to our
Consolidated Financial Statements.</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">New Standards and Interpretations</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">See Note</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 42 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">to
our Consolidated Financial Statements for a discussion of the new standards,
amendments to standards and interpretations not yet effective for the year
ended December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2015 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">which have not been applied in preparing the
Consolidated Financial Statements.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">C.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">RESEARCH AND DEVELOPMENT,
PATENTS AND LICENSES, ETC.</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">As a
technology-based company, we continue to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">focus on </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">product and service </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">innovation </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">through
ongoing research and development program</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. Our research and development
activit</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ies </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">are conducted under the Innovation and Strategic
Portfolio Directorate, Innovation and Design Center (&#8220;IDeC&#8221;) unit</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, now </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">under
our </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Digital Service Division</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. Our </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">IDeC&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> unit was mandated to enhance current operated service
and infrastructure, and innovate new businesses by creating new products and
solutions, and leveraging infrastructure technology to create new products and
solutions.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Continuing
our programs in 2014, we strengthened our innovation activities in 2015 by:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Designing
new service platform</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> that are fundamental to the development of the
ecosystem for new businesses, such as Open Platform for Connected Home Services</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;"> (such
as developing and building interop</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">er</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">able platform</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;"> with
various application services to support and facilitate the success of our
IndiHome</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
se</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">r</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">vice</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">)</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, Interoperable
Payment Platform</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">
(such as designing </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the&nbsp;</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">
development of </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a
</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">payment
platform to build ePayment Environment as an </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">pplications </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">l</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">aboratory
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">t</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">est </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">ed)</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, and Smart
Local Government Service Platform</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;"> (such as </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a </font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">prototype
integrated government service platform which</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> was</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;"> developed in
cooperation with a third party and our subsidiary)</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Designing
and developing vertical industry applications/services both for enhancing
current services and creating new services such as Shopping Experience </font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">over&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> TV and Home
Control for</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">
our</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
IndiHome fiber broadband service, Digital Payment for Games and e-Commerce,
Smart City applications, and SME enhancement applications. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Enhancing
open innovation activities by endorsing startups products to market and
fundraising to obtain follow on funding. In 2015, </font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">we&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> received 709
proposals from startup to join our Indigo Incubator Program for external
innovations. Some of the startups have already succeeded in the market and
streng</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">t</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">hened our
business portfolio. These include startups in various segments, including in
the SME segment (Startup: Jarvis, Run System), Mobile segment (Startup: Kakatu,
Siji), and Enterprise segment (Startup: Goers, Privygate). Other startups are also
in process of commercialization within our Telkom Group. Three of our startups
have also obtained follow on funding from external investors. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Conducting
joint innovation research and development with partners to enhance current
products and create new business models for future revenue generators. </font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">In first
half of 2015, w</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e
had two joint innovation programs with ZTE for IPTV enhancement and Huawei for
future broadband business models and services.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">These activities
were aimed to support our transformation into digital business company. Some of
our business that leveraged on technology and new products development were:</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=top width=28% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Product/Business</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=71% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Impact
  of technological or new products development</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=28% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">IndiHome
  Fiber</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=71% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;
  </font><font face="times new roman" style="font-size:10.0pt;line-height:normal;">Enable
  faster and aesthetic installation on premises by designing and implementing
  OTP Box and transparent optical fiber.</font></p>
  <p style="margin-bottom:.0001pt;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;
  </font><font face="times new roman" style="font-size:10.0pt;line-height:normal;">Creating
  new business opportunities on Indi</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">H</font><font face="times new roman" style="font-size:10.0pt;line-height:normal;">ome by introducing and standardizing
  hybrid set top boxes to the market.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=28% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Smart
  City</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=71% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" style="font-size:10.0pt;line-height:normal;">Improvement of
  city service quality by introducing some smart city services/applications to
  local governments and societies. The products introduced included City
  Information for tourism ecosystem, Panic Button and City Surveillance System
  for city security protection, Electronic Government Application for
  government public services, and Big Data Analytic to enable accurate
  government decision support system. </font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=28% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">UPoint
  Payment Platform</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=71% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" style="font-size:10.0pt;line-height:normal;">Facilitate
  increase in payment transactions, especially for games and applications, by
  introducing new payment model for mobile communication users. </font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=28% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Managing
  Open Innovation</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=71% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;
  </font><font face="times new roman" style="font-size:10.0pt;line-height:normal;">Emergence
  of many new digital applications to amplify our digital business by managing
  open innovation in our Indigo Program. The products being developed in our
  Indigo Incubator Program cover almost all of our business portfolios
  (personal, home, SME, enterprise).</font></p>
  <p style="margin-bottom:.0001pt;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face="courier new" style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" style="font-size:7.0pt;line-height:normal;">&nbsp;
  </font><font face="times new roman" style="font-size:10.0pt;line-height:normal;">By
  operating a subsidiary for corporate venture capital, we also increase the
  values of our startups in the market. </font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We routinely make
investments to improve products and services. Total expenditure for</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> such</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
investments </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">was approximately </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">14&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion, Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> billion and Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">11&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
billion in 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5,
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">respectively.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">D.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">TREND INFORMATION</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The significant
trends, or developments that have had in recent years, and may have in the
future, a material impact on our results of operations, financial condition and
capital expenditures, include (i) an increase in revenues from data, internet
and information technology services revenues, and (ii) a decrease in fixed
lines telephone revenues. See &#8220;Operating Results&#8221;.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We believe favorable
external factors, among others, will support our ability to continue to drive
revenue growth from both cellular and non-cellular data, internet and
information technology services. Indonesia's economy recorded a relatively
robust growth in recent years despite a sluggish global economy. With good
economic fundamentals, Indonesia&#8217;s national economy is expected to continue to
grow steadily, with a corresponding increase in consumer purchasing power,
which in turn is expected to result in higher demand for telecommunications
services, for both basic telecommunications services as well as the more
sophisticated value-added services that are part of the increasingly prevalent
digital lifestyle in modern societies.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the longer term,
Indonesia&#8217;s economy is also expected to enjoy support from Government
initiatives such as the Master Plan for the Acceleration and Expansion of
Indonesia&#8217;s Economic Development, which was launched in 2011. One of the three
pillars of the master plan is development of national connectivity, including
development of the information and communication technology sector. This is in
line with our IDN program and our strategic initiative on the development of our
Nusantara Super Highway project (i.e. the Palapa ring project known as
id-Ring), an optical-based network of six interconnected rings which links
Indonesia&#8217;s main island groups, namely the Sumatra ring, the Java ring, the
Kalimantan ring, the Sulawesi ring, the Bali and Nusa Tenggara ring and the
Maluku and Papua ring. We expect that the development of this extensive
telecommunication network connecting all the six major economic corridors will
allow us to offer more value-added services, and to reach more customers in a
much larger scale, as well as provide opportunities for our products and
services in the IMES areas.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The relatively high
penetration of the mobile market make continued growth in penetration
increasingly limited, with the number of SIM card users reaching saturation
level. However, we believe the shift in consumer preferences towards a digital
lifestyle, including the increasing adoption of smart phones and devices, will
be a key factor that we expect will drive our business in the future. We
believe this will lead to continuing increase in broadband demand (including
mobile broadband), compensating for the decline of our legacy business (both
fixed wireline and cellular telephone revenue and SMS revenue). We expect the
increase in demand for internet and data communications and corporate internet
to continue in 2016 as we increase our capacity to cover more small and medium
enterprises.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">E.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">OFF-BALANCE SHEET
ARRANGEMENTS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">A</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">s of
December 31, 2015, we had no off-balance sheet arrangements that were
reasonably likely to have a current or future material effect on our financial </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">condition</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,
revenues or expenses, results of operations, liquidity, capital expenditures or
capital resources.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">F.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">TABULAR DISCLOSURE OF CONTRACTUAL OBLIGATIONS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The following table
sets forth information on certain of our material contractual obligations as of
December 31, 2015.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=38% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Contractual Obligation</font></b></p>
  </td>
 <td valign=top width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=9 valign=bottom width=59% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">By Payment Due Date</font></b></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=38% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Less than 1 year<sup>(7)</sup></font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">1-3 years<sup>(7)</sup></font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">3-5 years<sup>(7)</sup></font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">More than 5 years<sup>(7)</sup></font></b></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=38% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=38% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Long-Term Debts<sup>(1)(5)</sup></font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">29,430</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">3,201</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">11,423</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">5,961</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">8,845</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=38% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Capital Lease Obligation<sup>(2)</sup></font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">4,580</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">641</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">1,296</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">1,210</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">1,433</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=38% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Interest on Long-Term Debts
  and Capital Lease<sup>(6)</sup></font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">17,845</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">3,066</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">4,793</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">2,912</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">7,074</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=38% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Operating Lease<sup>(3)</sup></font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">42,464</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">4,948</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">14,439</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">4,791</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">18,286</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=38% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Unconditional Purchase
  Obligations<sup>(4)</sup></font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">15,061</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">15,061</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=38% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Total<sup>
  </sup></font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">109,380</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">26,917</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">31,951</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">14,874</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">35,638</font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=12 valign=bottom width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">(1) See notes 17</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">and</font><font face="Times New Roman" style="font-size:9.0pt;">18 to
  our Consolidated Financial Statements</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=12 valign=bottom width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">(2) Related to the leases of the slot site of the
  tower, transmission installation and equipment, power supply, data processing
  equipment, office equipment, vehicles and CPE assets</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=12 valign=bottom width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">(3) Related to leases of
  leased line, telecommunication equipment and land and building</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=12 valign=bottom width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">(4) Capital Expenditure
  committed under contractual arrangements</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=12 valign=bottom width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">(5) Excludes the related
  contractually committed interest obligations</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=12 valign=bottom width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face="Times New Roman" style="font-size:9.0pt;">(6) See item 3 &quot;Key Information - Business
  Overview - Risk Factors - Risk Related to Our Business - Financial Risks - We
  are exposed to interest rate risk&quot;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=12 valign=bottom width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">(7) Less than 1 year = 2016,
  1-3 years = 2017-2018, 3-5 years = 2019-2020, more than 5 years = 2021 and
  thereafter</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">See
Note </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">6 to our Consolidated Financial Statements for further
details on our contractual commitments. In addition to the above contractual
obligations, we had long-term liabilities for </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">defined </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">pension
benefits</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> and post-employment
health care benefit provision</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. In </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2015</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, we
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">did not </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">contribute to our defined benefit pension plan</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> and post-employment health care benefit
provision</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. See Note 3</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> to our
Consolidated Financial Statements.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">G.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">SAFE HARBOR</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">All information that
is not historical in nature disclosed under &#8220;Off-Balance Sheet Arrangements&#8221;
and &#8220;Tabular Disclosure of Contractual Obligations&#8221; is deemed to be a
forward-looking statement. See &#8220;Forward-Looking Statements&quot;.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ITEM 6. <a name=DSME></a>DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">A.&#160;&#160;&#160; DIRECTORS
AND SENIOR MANAGEMENT</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">In accordance with the Indonesian Company Law, we have a Board of
Commissioners and a Board of Directors. These boards are separate and no
individual may be a member of both boards.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The members of the Board
of Commissioners and Board of Directors are elected and dismissed by
shareholders&#8217; resolutions at a GMS. As stated in our Articles of Association,
to be elected, candidates must be nominated by the Government as holder of the
Series A Dwiwarna Share. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The term of
office for each Commissioner and Director commences at the closing of the GMS
which appoints such Commissioner or Director or such other time as specified by
such GMS, and terminates at the closing of the fifth AGMS held after his/her
appointment</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. Shareholders,
through an AGMS or an EGMS, have the right to discharge a Commissioner or
Director at any time before the expiration of his/her term of office.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:13.5pt;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Board of Commissioners</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Our Board of Commissioners is
responsible for supervising and advising the Board of Directors. Our Board of
Commissioners consists of seven members, one of whom is designated the
President Commissioner. As of December 31, 2015, the Board of Commissioners
consisted of seven members as listed below: </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=30% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Name</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Age</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Date of Birth</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Commissioner Since</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Position</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Hendri
  Saparini</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">51</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">June 16, 1964</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">2014</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">President Commissioner</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Hadiyanto</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">53</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">October 10, 1962</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">2012</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Commissioner</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Dolfie
  Othniel Fredric Palit</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">47</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">October 27, 1968</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">2014</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Commissioner</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Margiyono
  Darsasumarja</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">39</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">September 14, 197</font><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">6&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">2015</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Commissioner</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Parikesit
  Suprapto</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">64</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">August 8, 1951</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">2012</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Independent Commissioner</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Rinaldi
  Firmansyah</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">55</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">June 10, 1960</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">2015</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Independent Commissioner</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Pamiyati
  Pamela Johanna Waluyo</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">57</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">June 20, 1958</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">2015</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Independent Commissioner</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Each of our Commissioners </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">was&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> a citizen </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">of
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">and domicile</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">d in </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Indonesia
as of December 31, 2015. In accordance with OJK regulations and IDX rules which
require 30% of our Board of Commissioners to be independent, three
Commissioners have been designated as Independent Commissioners: Parikesit Suprapto, Rinaldi Firmansyah and
Pamiyati Pamela Johanna Waluyo. The
principal duty of our Independent Commissioners, in addition to exercising
supervision, is to represent the interests of minority shareholders. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">Set forth below is a brief
biography of each of our Commissioners:</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:9.0pt;text-align:justify;"><i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Hendri Saparini </font></i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">assumed the role of President Commissioner
in December 2014</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> </font></i></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Dr. Saparini founded the Center for Reformation (CORE
Indonesia) and has served as its executive director from 2013. Since 1994, Dr.
Saparini has been employed by the ECONIT Advisory Group where she served as
researcher (1994-2013) and managing director (2005-2</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">013</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">).
She currently serves as lecturer at the Institute of State Administration (</font><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Lembaga
Administrasi Negara) </font></i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">from 2009. In addition, she has served as an expert staff
to the Minister of Cooperatives and SME (2007 and 2001-2002) and to the
Coordinating Minister for the Economy (2000). Dr. Saparini served as budgetary
consultant for the Indonesian House of Representatives Secretariat General
(2009-2012) and independent consultant at Bank Indonesia as well as a number of
international and domestic institutions, corporations, business associations
and SOEs. Dr. Saparini has also served as lecturer in economics at the Gadjah
Mada University masters in management program (2003-2005). Bandung Institute of
Technology faculty of development studies (masters in management program)
(2003-2005) and doctoral program of the Muhammadiyah University of Surakarta
faculty of economics. </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Dr.
Saparini holds a doctorate in international political econom</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ics&nbsp;</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> and a master degree in international policy </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">management </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">from Tsukuba University, Japan and a bachelor of arts degree in
economics from Gadjah Mada University, Yogyakarta.</font></p>

<p style="background:white;margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:9.0pt;text-align:justify;"><i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Hadiyanto </font></i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">assumed the role of Commissioner in May 2012.
Currently, he also serves as Director General of State Assets at the Ministry
of Finance</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. from
2006. He currently also serves as a director of PT Bank Export Indonesia
(Persero) (&quot;Indonesia Exim Bank&quot;) from 2009 and member of the
supervisory board of the Harapan Kita Cardiovascular Hospital from 2011. </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Dr. Hadiyanto has assumed, among other
positions, Head of the Legal </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Bureau
of the </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Secretariat General of
the Ministry of Finance </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">(2005-2006)
</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Alternate Executive Director
at the World Bank in Washington D.C. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">(2003-2005) and Head of the Legal and Public Affairs Bureau of the
Ministry of Finance (1998-2003). He was Commissioner of PT Tuban Petro
(2007-2013). </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">President
Commissioner of PT Garuda Indonesia Tbk (2007-2012) and President Commissioner
of Indonesia</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Exim Bank</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> (2007-2009). He holds a doctorate in legal
studies and a bachelor of law degree from the
University of Padjadjaran and a Master of Laws from Harvard University Law
School.</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Dolfie Othniel Fredric Palit</font></i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> assumed the role of Commissioner in
December 2014.</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> He currently also
serves as Executive Director of the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Strategic
Consultancy Institute for Research on Policy and Regional Autonomy (</font><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Lembaga
Konsultan Strategis Riset Kebijakan dan Otonomi Daerah</font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">(REKODE) from 2004. Previously, Mr. Palit has served as Operational
Director at the Bumi Indonesia Foundation (2000-2003), and a Co-ordinator of
the Indonesia Corruption Watch (1999-2000). Mr. Palit served as a member of the
Indonesian House of
Representatives from 2009 to 2014, where he acted as member of the Special
Committee for the Prevention and Combating Money Laundering, the Bank Century
Supervisory Team, the Budget Committee of the House of Representatives, and the
Special Committee of the Law on the
Healthcare and Social Security Agency (BPJS). He holds a bachelor degree from
the Bandung Institute of Technology.</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Margiyono
Darsasumarja </font></i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">assumed the role of
Commissioner in April 2015. He has served as coordinator of advocacy and
partnership for government reform of the Bureaucracy Reform Project</font><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> </font></i></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(2013-2015),
a lecturer in law and media ethics at Ahmad Bakrie University (2011-2013) and a
media development manager at Voice of Human Rights Media, a radio
program in Indonesia (2002-2009). Mr. Darsasumarja served as legal counsel for
the Indonesian Press Council and chairman of the advisory board of the Press
Legal Aid (2009-2011). He holds a Master of Laws from the University of Leeds,
England and a Bachelor of Law from the University of Indonesia.</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Parikesit Suprapto </font></i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">assumed
the role of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Commissioner in May
2012 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and has been our Independent
Commissioner from December
2014. Previously he was the Deputy
for the Services Sector (2010-2012) and Deputy for the Banking and Financing
Sector (2008-2010) at the MSOE and an Advisor for the small enterprises sector to
the State Minister for Cooperatives and Small and Medium Enterprises
(2006-2008). In addition, Dr. Suprapto has served as a commissioner of Indosat
(2011-2012) and PT Bank Negara Indonesia (Persero) Tbk (2007-2010). He
holds a doctorate in development economics from the University of Notre Dame,
Indiana, a master degree in development economics from Indiana University,
Indiana and a bachelor degree in corporate economics from the Institute of Industrial Management (STMI)</font><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,&nbsp;</font></i></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
Jakarta</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="background:white;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:justify;"><i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Rinaldi Firmansyah </font></i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">assumed the role of Independent Commissioner in April
2015. He concurrently serves as </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a
</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">commissioner at Indosat from
2015, PT Elnusa from 2014 and PT Bluebird Tbk from 2013. Dr. Firmansyah served
as our President Director (2007-2012) and our Director of Finance (2004-2007). </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Before that, he served as Vice-President Commissioner
of PT Bahana Securities (2003-2004), Commissioner and Chairman of the audit
committee of PT Semen Padang (2003) and President Director of PT Bahana
Securities (2001-2003). He holds a doctorate in management from the University
of Padjadjaran, an MBA from the Indonesian Institute of Management Development
(IPMI), Jakarta and a bachelor degree in electrical engineering from the
Bandung Institute of Technology. Dr. Firmansyah is a Chartered Financial
Analyst</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="background:white;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">P</font></i><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">amiyati </font></i><i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Pamela Johanna Waluyo </font></i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">assumed the role of Independent Commissioner in April
2015. Previously, she has served as Corporate Marketing Director of Obession
Media Group (2014-2015), Assistant Director of Sales
&amp; Marketing at PT Media Televisi Indonesia (the broadcaster of Metro TV)
(2006-2014), </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">corporate public
relations professional at</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> PT
Media Televisi Indonesia and the Media Group (2000-2006)</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> She holds a master degree from the Delft University </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">of </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Technology, the Netherlands</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
and a bachelor degree from the Trisakti Business School, Jakarta.</font></p>

<p style="background:white;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Board of Directors</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Our Board of Directors is responsible
for our overall management and day-to-day operations under the supervision of
the Board of Commissioners. The Board of Directors consists of eight members,
including </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">a&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> President Director. For more </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">detailed
information regarding </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">the
functions and authority of each of our Directors, see </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Item 4 </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&quot;Information on the Company </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#8211;&nbsp;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;"> </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Organizational
Structure</font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> &#8211;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;"> </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Information on Our Organizational
Structure&quot;</font><b><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font></b><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;"> As of </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">December </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">31, 201</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;">5</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;">, the Board of Directors consisted of
eight members as listed below :</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:13.5pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td width=23% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Name</font></b></p>
  </td>
 <td width=2% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Age</font></b></p>
  </td>
 <td width=2% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Date of Birth</font></b></p>
  </td>
 <td width=2% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Director Since</font></b></p>
  </td>
 <td width=2% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td width=33% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0pt;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Position</font></b></p>
  </td>
 <td width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=23% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Alex J.
  Sinaga</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">54</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">September 27, 1961</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">2014</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">President
  Director (CEO)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=23% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Heri
  Sunaryadi</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">50</font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">June 26, 1965</font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">2014</font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Director of
  Finance (CFO)</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=23% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Indra Utoyo</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">54</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">February 17, 1962</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">2007</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Director of
  Innovation &amp; Strategic Portfolio (ISP)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=23% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Abdus Somad
  Arief</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">52</font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">September 25, 1963</font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">2014</font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Director of
  Network, Information Technology &amp; Solution (NITS)</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=23% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Herdy
  Rosadi Harman</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">52</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">June 28, 1963</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">2014</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Director of
  Human Capital Management (HCM)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=23% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Dian
  Rachmawan</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">51</font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">May 14, 1964</font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">2014</font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Director of
  Consumer Services (CONS)</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=23% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Honesti
  Basyir</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">47</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">June 24, 1968</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">2012</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Director of
  Wholesale &amp; International Services (WINS)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=23% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font style="border:none windowtext 1.0pt;padding:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Muhammad Awaluddin</font></font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">47</font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">January 15, 1968</font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">2012</font></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Director of
  Enterprise &amp; Business Services (EBIS)</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Each of our Directors </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">wa</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s a citizen and domiciled in Indonesia as of
December 31, 2015. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In accordance with Listing Regulation No.IA in KEP.00001/BEI/01-2014
issued by the IDX (&#8220;IDX Regulation I-A&#8221;), the board of directors of a listed
company must consist of at least one independent director. We have appointed </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Honesti Basyir</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> as our Independent Director.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Set forth below is a brief biography of each of our Directors:</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Alex J. Sinaga</font></i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> assumed the role of President Director in December
2014. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">He currently also serves as
President Commissioner of Telkomsel from 2014, Mr. Sinaga started his career
with our Company in 1987. He has served as President Director of Telkomsel
(2012-2014), President Director of Metra </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2007-2012), </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-decoration:none;">Executive General Manager of our
Enterprise Services Division (2005-2007), Executive General Manager of our
Fixed Wireless Division (2002-2005) and</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Senior Manager of </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-decoration:none;">Business
</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-decoration:none;">P</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-decoration:none;">erformance for Telkom's </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-decoration:none;">Regional Division</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-decoration:none;"> II Jakarta (2002) and General Manager of Telkom West
Jakarta</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-decoration:none;"> Branch Office</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-decoration:none;"> (2000-2002). Prior to that, Mr. Sinaga served as General
Manager at the West Surabaya </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-decoration:none;">Branch Office</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-decoration:none;"> (1998-1999) and Malang </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-decoration:none;">Branch Office </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-decoration:none;">(1997-1998). </font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">He is currently the Chairman of </font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the
</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">Indonesian Cellular
Telecommunication Association (ATSI) and is an executive member of the
Indonesia Chamber of Commerce (KADIN) for England</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
and </font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">Europe </font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">for the</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">
Information, </font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">ommunication and </font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">t</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">echnology </font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">sector
</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">(ICT). </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Mr.
Sinaga holds a master degree in telematics from the University of Surrey,
England and a bachelor degree in </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">electrical
engineering</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> from the Bandung
Institute of Technology.</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Heri Sunaryadi</font></i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> assumed the role of Director of Finance in December
2014. Prior to his appointment as our Director, Mr. Sunaryadi served as
President Director of PT Kustodian Sentral Efek Indonesia (2013-2014)</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> President Director of PT Bahana Pembinaan Usaha Indonesia (Persero)
(2009-2013) </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-decoration:none;">and President Director of Bahana Securities (2007-2009).
Mr. Sunaryadi has also served as President Commissioner of PT Bahana Securities
(2009-2014) and as commissioner of of PT Kustodian Sentral Efek Indonesia
(2009-2012), PT Sarana Jatim Ventura (2010-2011) and, PT Mitra Tani Dua Tujuh
(2010-2011. From 1987 to 1999, Mr. Sunaryadi was employed by the Astra Group
where he rose to become Director of Astra Securities. </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Mr. Sunaryadi holds a bachelor degree from
the agricultur</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">al technology</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> faculty of the Bogor Agricultural
Institute.</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="times new roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Indra Utoyo</font></i><font face="times new roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> assumed the
role of Director of </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Innovation and Strategic Portfolio in April 2012</font><font face="times new roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">.&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> </font><font face="times new roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">He
joined our Company in 1986 and has held various other positions including Director
of Information Technology Solution &amp; Supply (2007-2012) and </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Senior General Manager of our
Information System Center (2005-2007). From October to December 2014, he also
served as our Acting President Director. Currently, Mr. Utoyo also serves as
the President Commissioner of Metra from 2008 and Chairman of the Board of
Supervisors of the Telkom Educational Foundation (</font><i><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Yayasan Pendidikan Telkom</font></i><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">)
and</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">
the Telkom Health Foundation (Yayasan Kesehatan Telkom) </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">from 2012</font><font face="times new roman" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">.
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Mr.
Utoyo holds a master degree in communication and signal processing from
Imperial College, London and a bachelor degree in electrical telecommunications
engineering from the Bandung Institute of Technology</font><font face=Calibri,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Abdus Somad Arief</font></i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> assumed the role of Director of Network, Information
Technology</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> and</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> Solution in December 2014. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">He currently also serves as President
Commissioner of Telkom Infratel from 2015. Mr. Arief started his </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">&#160;career with our Company</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> in 1992. H</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">e has served as Director of Networ</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">k
at Telkomsel (2012-2014) </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">and Executive General Manager for</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> our</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> Enterprise Service</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> Division (2009-2012), Vice-President of
Business Development for</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> our</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> Enterprise</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> and</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">
Wholesale</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Directorate</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> (2008-2009) and Deputy Executive General
Manager of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">our Enterprise
Services Division (2007-2008). </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-decoration:none;">He has
also served as Senior Manager for Product &amp; Service Supply Management
(2006-2007), Senior Manager for Enterprise Solution Engineering (2005-2006),
Manager for Banking &amp; Service Solution (2004-2005) and Assistant Manager
for Total Solution Design &amp; Analysis (2003-2004</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">). </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">In
addition, Mr. Arief has served </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">as&nbsp;</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> President Commissioner of PT Pramindo Ikat
Nusantara</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> (which has changed its
name to PINS)</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> (2011-2012) and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">commissioner of Telkomsel (2015), Mitra</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">t</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">el (2012-2014)
and </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Infomedia (2010-2011). Mr.
Arief holds a</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> masters in electrical
engineering in information and</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">
technology</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> systems</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> and a bachelor degree in electrical
engineering from the Bandung Institute of Technology.</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Herdy Rosadi Harman</font></i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> assumed the role of Director of Human Capital
Management in December 2014. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Mr.
Harman started his career with our Company in 1987. </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Prior to his appointment as our Director, Mr. Harman
served as Director of Human Capital Management at Telkomsel (2012-2014),
Vice-President of Regulatory Management at our Company (2007-2012) and
Vice-President of Legal &amp; Compliance at our Company (2006-2007). </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-decoration:none;">He has
also served as our Company's General Manager for Management Support (2004-2006)
and Secretarial Manager to the President Director (2003-2004).</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> Mr. Harman holds a Master of Laws from
Washington College of Law,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> at the
American University, </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Washington
D.C., </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">an MBA </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">from the Asian Institute of Management,
Philippines</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, and the
</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Bandung Institute of
Management (now known as Telkom University) and a bachelor of law degree from </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">the </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">University of Padjadjaran, Bandung.</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Dian Rachmawan</font></i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> assumed the role of Director
of Consumer Services in December 2014</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. He </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-decoration:none;">currently
also serves as President Commissioner of Telkom Akses from 2015.Mr. Rachmawan
started his career with our Company in 1989. He has served as CEO of Telin Hong
Kong (2011-2014), Director of Business &amp; Partnership Development at Telin
(2007-2011) and Executive General Manager for Fixed Wireless Network Division
at our Company (2005-2007). Previously, Mr. Rachmawan served as our Company's
General Manager for South Jakarta Branch Office (2004-2005), General Manager
for Interconnection &amp; Partnership for Regional Division II Jakarta
(2001-2004) and Assistant Vice President for Interconnection Planning at our</font><u><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> </font></u><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-decoration:none;">headquarters
(2000-2001).</font><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> </font></i></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Mr. </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Rachmawan holds a master degree in telecommunication</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> engineering from Bradford University, England and a bachelor degree in
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">electronic engineering from </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Surabaya Institute of Technology.</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">Honesti Basyir</font></i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> assumed the role of Director of Wholesale </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">and&nbsp;</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> International Services
in December 2014 before which
he served as our Director of Finance from May 2012. Mr. Basyir </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">started his career with our Company in 1994
and </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">has held a number of key
positions within our Company, including Vice-President for
Strategic Business Development at the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">IT, Solution &amp; Strategic Portfolio</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> Directorate (2012), Vice-President for Strategic
Business Development at </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">the
Strategic Investment &amp; Corporate Planning Unit</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> (2010-201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">), Project Controller</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> (Level 1)</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> of Project Management Office (2009-2010) and Assistant Vice-President
for Business &amp; Finance Analysis</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
at the Strategic Investment &amp; Corporate Planning Unit</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> (2006-2009</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">). </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;">He
holds a master degree in corporate finance from Bandung Institute </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">of&nbsp;</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;line-height:normal;"> Management (now known as Telkom University) and
a bachelor degree in industrial engineering from the Bandung Institute of
Technology.</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">Muhammad
Awaluddin</font></i><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;"> assumed the role
of Director of Enterprise </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">and&nbsp;</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;"> Business Services in
December 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">2. </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-decoration:none;">He currently also serves as President Commissioner of
Patrakom and Sigma from 2015 and a member of the Board of Trustees of the
Telkom Health Foundation (</font><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-decoration:none;">Yayasan Kesehatan Telkom</font></i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-decoration:none;">) from 2012.</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Mr. Awaluddin started his career </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-decoration:none;">with
our Company in 1992. Mr. Awaluddin has served as President Commissioner of
Telkom Akses (2014-2015),</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;text-decoration:none;"> P</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-decoration:none;">resident Commissioner </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;text-decoration:none;">of Infomedia</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-decoration:none;"> (2012-2014) and President Director (2010-2012) and
Chairman (2007-2011) of PT Batam Bintan Telekomunikasi (a subsidiary of our
Company</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;text-decoration:none;">). </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;text-decoration:none;">Previously, he has served at our Company as Executive
General Manager for Access Network Infrastructure (2010), Executive General
Manager for Regional Division I Sumatra (2007-2010), Vice President of Public &amp; Marketing
Communications (2005-2007),
General Manager of Bogor</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;text-decoration:none;"> Branch
Office (2004-2005) </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">General Manager of Central Jakarta</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> Branch Office (2005). Mr. Awaluddin holds an
MBA </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">from the European
University in Antwerp, Belgium and a bachelor degree in electrical engineering
from Sriwijaya University.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;">Other than as provided
for under our Articles of Association none of our Commissioners or Directors
has any arrangement or understanding with any major shareholder,
customer, supplier or with us pursuant to
which such person was selected as a Commissioner or Director</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;">,&nbsp;</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;"> nor are any such arrangements, understanding or contracts
proposed or under consideration. There is no family relationship between or
among any of the Commissioners or Directors listed above.</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;">
The business address of our Commissioners and Directors is </font><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;">Jl. Japati No.
1, Bandung 40133, Indonesia</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;page-break-after:avoid;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">B.&#160;&#160;&#160; COMPENSATION </font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Compensation </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">o</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">f
Commissioners </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">a</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">nd Directors</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Compensation of Commissioners and
Directors are determined by the shareholders at the GMS which grants authority
and authorization
to the Board of Commissioners, with prior approval from </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">the holder of the</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
Series A Dwiwarna share as to the amount of tantiem which will be
given to the members of Board of Director and Board of Commissioners for the
2015 financial year and also as to the amount of the salary</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> or </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">honorarium
including facilities and allowances for the members of Board of Director and
Board of Commissioners for the 2015 financial year. The Nomination and
Remuneration Committee is responsible for formulating the Commissioners&#8217;
and Directors&#8217; honorarium, which is further discussed in a joint meeting of our
Board of Directors and Board of Commissioners for approval.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Each Commissioner is entitled to
monthly remuneration and benefits. They are also entitled to bonuses based on
our business performance and achievements.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Each Director is entitled to a remuneration
consisting of a monthly salary and other allowances. Directors also receive an
annual bonus based on our business performance and achievements. The bonus and
incentive are budgeted every year based on</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> a formula prepared by the Nomination and Remuneration
Committee (NRC)</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> and confirmation from the
Board of Commissioners before being considered by shareholders at the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=times-roman lang=EN-US style="font-size:10.0pt;">In accordance
with regulations relating to SOEs in Indonesia, all of our Commissioners and
Directors are entitled to post-employment benefit including an insurance scheme
which we are required to contribute up to 25% of the salary of our
Commissioners and Directors. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">There are no
service contracts providing for benefits to be provided for our Directors or
Commissioners upon their termination as Directors or Commissioners. </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We also provide our Commissioners and
Directors with long-term incentives (&#8220;LTI&#8221;) in the form of </font><font color=black face="Times New Roman" lang=IN style="font-size:10.0pt;">shares </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">or for our Independent Commisioners in the
form of</font><font color=black face="Times New Roman" lang=IN style="font-size:10.0pt;"> cash.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We
budgeted incentives for the current year but will be distribute such incentives
in the following year after the publication of our audited financial statements
and having the approval in a GMS. We only distribute</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> cash </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">incentives&nbsp;</font><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
</font></i></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">if we achieve certain</font><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> </font></i></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">performance&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
targets.</font></p>

<p style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">For 2015, the total
remuneration paid to the entire Board of Commissioners was Rp50.1</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> </font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">billion.&#160;
</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">Taxes from remuneration borne by
the Company amounted to Rp</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">3.5 billion</font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">.
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The remuneration that ha</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> been
received by Board of Commissioners in 2015 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">is
set forth</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> below :</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td rowspan=2 width=50% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Board of Commissioner</font></b></p>
  </td>
 <td width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=5 width=47% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Value (Rp million)</font></b></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Honorarium and Allowance</font></b></p>
  </td>
 <td width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Tantiem</font></b><b><font face="Times New Roman" style="font-size:9.0pt;">,&nbsp;</font></b><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> THR, LTI and Post Employment Benefit</font></b></p>
  </td>
 <td width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Hendri Saparini<sup>
  </sup></font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 1,190.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 254.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 1,444.3</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Hadiyanto<sup> </sup></font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 1,026.4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 5,722.6</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 6,749.0</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Parikesit Suprapto<sup>
  </sup></font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 1,026.4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 5,722.6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 6,749.0</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Dolfie Othniel
  Fredric Palit<sup> </sup></font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 1,071.2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 227.6</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 1,298.8</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Rinaldi Firmansyah<sup>
  </sup></font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 718.5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 72.3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 790.8</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Pamiyati Pamela
  Johanna Waluyo<sup> </sup></font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 723.5</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 72.3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 795.8</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Margiono
  Darsasumarja<sup> </sup></font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 723.5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 72.3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 795.8</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Imam Apriyanto Putro<sup>*</sup></font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 347.2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 5,870.3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 6,217.5</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Johnny Swandi Sjam<sup>*</sup></font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 347.2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 9,622.1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 9,969.3</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Virano Gazi Nasution<sup>*</sup></font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 347.2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 8,849.9</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;"> 9,197.1</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Jusman Syafii Djamal<sup>**</sup></font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6,131.0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6,131.0</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=8 valign=bottom width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">Note <sup>*</sup>)
  until AGMS date of April 17, 2015</font><sup><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> </font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=8 valign=bottom width=100% style="background:white;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face="Times New Roman" style="font-size:10.0pt;">           **) </font></sup><font face="Times New Roman" style="font-size:9.0pt;">until EGMS date of  December 19, 2014</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">For 2015, the total remuneration of the entire Board
of Directors was Rp</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">119.2&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> billion. </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">Taxes from remuneration borne by the Company amounted
to Rp</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">7.6 billion. The
remunerations that have been received by Board of Directors </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">in </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2015 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">is set forth</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> below:</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td rowspan=2 width=35% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Board of Director</font></b></p>
  </td>
 <td width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=7 width=63% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Value (Rp million)</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Honorarium</font></b></p>
  </td>
 <td width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Tantiem &amp; THR</font></b></p>
  </td>
 <td width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Allowance</font></b></p>
  </td>
 <td width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Alex J. Sinaga</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,112.0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">548.4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">300.0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,960.4</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Heri Sunaryadi</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,900.8</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">486.7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">300.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,687.5</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Indra Utoyo</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,900.8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,755.3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">300.0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,956.1</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Dian Rachmawan</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,900.8</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">486.7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">300.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,687.5</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Muhammad Awaluddin</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,900.8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,755.3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">300.0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,956.1</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Abdus Somad Arief</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,900.8</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">486.7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">300.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,687.5</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Herdy Rosadi Harman</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,900.8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">486.7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">300.0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,687.5</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Honesti Basyir</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,900.8</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,755.3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">300.0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">14,956.1</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Arief Yahya<sup>*</sup></font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">11,581.8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">11,581.8</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Ririek Ardiansyah<sup>*</sup></font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,265.3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,265.3</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Priyantono Rudito<sup>*</sup></font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,265.3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,265.3</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Rizkan Chandra<sup>*</sup></font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,265.3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,265.3</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Sukardi Silalahi<sup>*</sup></font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,265.3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">12,265.3</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=10 valign=bottom width=100% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Note *) until EGMS date of
  December 19, 2014</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">t</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">otal
accrued remuneration of Board of Commissioners and Directors for 2015 was Rp161
billion, </font><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">consisting of long-term
incentives and tantiem.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">C.&#160;&#160;&#160; BOARD PRACTICES </font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our Board of Commissioners acts as our overall supervisory and
monitoring body with principal functions including planning and development,
operations and budgeting in compliance with our Articles of Association, and to
carry out the mandate and resolutions of the AGMS and EGMS. The Board of
Commissioners does not have the authority to run or manage our Company, except
in the exceptional situation when all members of the Board of Directors are
suspended for any reason. The Board of Commissioners provides advice and
opinions to the AGMS with respect to financial reporting, business development,
appointment of auditors, and other important and strategic matters related to
corporate actions. The Board of Commissioners also reviews our work plan and
budget, keeps abreast of our progress, and in case our Company gives an
indication of slowing-down, immediately requests the Board of Directors to
notify the shareholders and provides recommendations on measures for
mitigation. Finally, the Board of Commissioners ensures that our corporate
governance program is properly applied and maintained&#160; in accordance with the
applicable regulations. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The Board of Commissioners is obliged to carry out its duties and
responsibilities&#160; in accordance with our Articles of Association, decisions
from the AGMS and EGMS and applicable laws and regulations. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The Board of Commissioners is assisted by a Board of Commissioners
Secretary as well as the Audit Committee, the Nomination and Remuneration
Committee and the Planning and Risk Evaluation and Monitoring Committee. As
necessary, the Board of Commissioners may seek assistance from professional
advisors.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Meetings of the Board of Commissioners are held at least once a month
at any time deemed necessary by one or more members of the Board of
Commissioners, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">or at the request of the Board of Directors</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, or at the written request of one or more
shareholders holding at least one-tenth of our outstanding shares of common
stock. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Commissioners must
hold joint meetings with the Board of Directors at least once every four months</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. Decisions at Board of Commissioners meetings
are taken through a process of deliberation and consensus. If consensus cannot
be reached, decisions are based on a majority vote of the Commissioners in
attendance or who are represented at the meeting. In the event of a tie, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the proposed resolution will be decided by the
Commissioner who chairs such Board of Commissioners meeting.</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. The quorum for all Board of Commissioners
meetings requires attendance in person, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">through
video conference, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">or by
proxy granted to another Commissioner, of Commissioners representing more than
one-half of the total number of Commissioners</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our Board of Directors is generally responsible for managing our
business in accordance with applicable laws, our Articles of Association and
the policies and directives issued by the GMS and the Board of Commissioners.
The Board of Directors also has the right to act for and on our behalf, inside
or outside a court of law, on any matter and for any event, with another party.
</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Meetings of the Board of Directors may be convened at any time deemed
necessary </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">at the request of one or more members of the Board of
Directors, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">at the request of the Board of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Commissioners </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">or upon a written request from one or more shareholders representing
one-tenth or more of the total number of outstanding shares of common stock.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Meetings of the Board of Directors are chaired by the President
Director. In the event that the President Director is unavailable or absent for
any reason, the meeting will be chaired by </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the
Vice-President Director. In the event that the Vice-President Director is
unavailable or absent for any reason or if no Director is appointed as
Vice-President Director, the meeting will be chaired </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Directors appointed in the meeting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Decisions </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">at&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Board of Directors meetings are taken through a
process of&#160; deliberation and consensus. If consensus
cannot be reached, decisions are based on a majority vote of the
Directors in attendance at the meeting. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In
the event of a tie, the proposed resolution will be decided by a Director who
chairs such Board of Directors meeting.</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> The quorum for all Board of Directors meeting requires attendance in
person, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">or through video conference </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">or by proxy granted to another Director, of Directors representing more
than one-half of the total number of Directors. Each
Director who is present at a Board of Directors meeting</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> is </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">entitled
to cast one vote (and one vote for each other Director
represented by proxy). </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Individual Directors are charged with specific responsibilities. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:13.5pt;"><b><font face="Times New Roman" lang=IN style="font-size:6.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Audit Committee</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:6.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The Audit Committee operates under the authority of the Audit Committee
Charter, which was </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">adopted under </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a Decree of the Board of Commissioners </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">No.07/KEP/DK/2013 dated July 23, 2013 in relation to
the Charter of the Telkom Group Audit Committee</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. The Audit Committee Charter is regularly evaluated
and, if necessary, amended to ensure compliance with OJK and SEC requirements
and other relevant regulations.. In 2015, no changes were made to regulations
related to our Audit Committee that would require us to amend our Audit
Committee Charter. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The Audit Committee Charter outlines the Audit Committee&#8217;s purpose,
function and responsibilities. It provides that the Audit Committee is
responsible for </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">among others</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">:&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=timesnewroman lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">overseeing our financial
reporting process on behalf of the Board of Commissioners; </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=timesnewroman lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">providing recommendations
to the Board of Commissioners regarding the selection of our external auditor,
subject to shareholder approval;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=timesnewroman lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">discussing with our
internal and external auditors on the overall scope and plans of their
respective audits; </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=timesnewroman lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">reviewing our Consolidated
Financial Statements and the effectiveness of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">i</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">nternal </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ontrols
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">o</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ver </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">f</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">inancial </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">r</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">eporting (&#8220;ICOFR&#8221;); </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=timesnewroman lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">convening regular meetings
with internal and external auditors, without the presence of management, to
discuss the results of their evaluation and audit of our internal controls as
well as the overall quality of our financial reporting;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=timesnewroman lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">providing independent advice in
cases where difference of opinion exists between management and our independent
auditors;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=timesnewroman lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">monitoring the steps taken by
Directors to follow up on the findings of our internal auditors; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=timesnewroman lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">carrying out additional
tasks that are assigned by the Board of Commissioners, especially on financial
and accounting related matters as well as other obligations required by the
Sarbanes Oxley Act of 2002.</font></p>

<p style="margin-bottom:.0001pt;margin-left:31.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The Audit Committee may engage an independent consultant or other
professional advisers to assist in carrying out its functions. In addition, the
Audit Committee receives and handles complaints.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:6.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Audit Committee Independence</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">OJK
Rule No.55/POJK.04/2015 on Establishment
and Code of Conduct for Audit Committees (the &quot;OJK Audit Committee Regulation&quot;)
and IDX Regulation No.1-A require the
Board of Commissioners of a public company which is listed on the IDX (such as
our Company) to establish an audit committee which is chaired by an independent
commissioner. In addition, the OJK Audit Committee Regulation requires each
member of such audit committee to be either an independent commissioner or
external independent member, with the audit committee comprised of at least
three members with at least one independent commissioner and one external independent
member and at least one member of the audit committee having expertise in
accounting or finance. We also require at least one external independent member
to have expert knowledge (in the context
of Item 16A of Form 20-F) in the field of accounting or finance.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">In order to be considered independent under the prevailing Indonesian
rules, the external </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">independent </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">members of the Audit Committee:</font></p>

<p style="margin-bottom:.0001pt;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=timesnewroman lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">may not be an executive
officer of a public accountant firm that has provided audit or non -audit
services to us within the six months prior to his or her appointment as an
Audit Committee member;</font></p>

<p style="margin-bottom:.0001pt;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=timesnewroman lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">may not have been our
executive officer within the six months prior to his or her appointment as an
Audit Committee member;</font></p>

<p style="margin-bottom:.0001pt;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=timesnewroman lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">may not be affiliated with
our majority shareholder;</font></p>

<p style="margin-bottom:.0001pt;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=timesnewroman lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">may not have a family
relationship with any member of the Board of Commissioners or Board of
Directors;</font></p>

<p style="margin-bottom:.0001pt;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=timesnewroman lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">may not own, directly or
indirectly, any of our shares; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=timesnewroman lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">may not have any business
relationship that relates to our businesses.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Currently, the Audit Committee consists of f</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">our&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
members: (i) Rinaldi Firmansyah (Independent Commissioner and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">C</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">hairman&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> of the Audit Commitee</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">); (ii) Tjatur Purwadi (Secretary</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> of the Audit Committee and</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">; external </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">independent
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">member); (iii) Parikesit Suprapto
(Independent Commissioner); (iv) Dolfie Othniel Fredric Palit (Commissioner </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and
non-voting member</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">). &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;line-height:normal;">&nbsp;</font></i></p>




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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Audit Committee Financial Expert</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:6.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">See Item 16A &#8220;Audit Committee Financial Expert&#8221;.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=IN style="font-size:6.0pt;line-height:normal;">&nbsp;</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Exemption from US Listing Standards for Audit
Committees</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">See Item 16D &#8220;Exemptions from the Listing Standards for Audit
Committees&#8221;.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:6.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Nomination </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">nd Remuneration Committee</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:6.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our Nomination and Remuneration Committee was formed pursuant to Board
of Commissioner&#8217;s decree No.13/KEP/DK/2015 dated December 28, 2015 regarding
the Establishment of the Nomination and Remuneration Committee.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The
objective of the Nomination and Remuneration Committee is to establish,
administer and enforce corporate governance principles in the process of
nomination for strategic management positions and the determination of the
Board of Directors&#8217; remuneration. The duties of the Nomination and Remuneration
Committee </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">include the following</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">:&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">devise
a nomination and selection system for strategic positions within Telkom by,
referring to corporate governance principles, such as transparency,
accountability, responsibility, fairness and independence;</font></p>

<p style="margin-bottom:.0001pt;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">assist
the Board of Commissioners who engaged with the Directors in selecting
candidates for strategic positions in our Company (i.e. </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">positions which
are </font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">one
level under the directorship</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s of our Company)</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;"> and directors
and commissioners of a any consolidated subsidiary that contributes 30% or more
of our consolidated revenue, such as Telkomsel). For Telkomsel, the Nomination
and Remuneration Committee&#8217;s recommendation would be passed on to the holder of
the Series A Dwiwarna share; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">formulate
a remuneration system for Directors based on fairness and performance.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Currently, the members of our Nomination and Remuneration Committee </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">are Parikesit Suprapto (Independent Commissioner and
Chairman of the Nomination and Remuneration Committee</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">), Hendri Saparini (President Commissioner), Hadiyanto
(Commissioner), Dolfie Othniel Fredic Palit (Commissioner), Margiyono Darsasumarja
(Commissioner), Rinaldi Firmansyah (Independent Commissioner), Pamiyati Pamela
Johanna Waluyo (Independent Commissioner) and Ario Guntoro (Secretary of the
Board of Commissioner). To maintain independence in the execution of their
tasks, members of the Nomination and Remuneration Committee have no
relationship, either directly or indirectly, with us. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">D.&#160;&#160;&#160; EMPLOYEES </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We had a
total of 24,785 employees as of December 31, 2015, consisting of 16,097 Telkom
employees and 8,688 employees of our subsidiaries. This represent</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ed&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> a
decrease </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.0% compared to </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">our
total number of employees </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">as of
December 31, 2014,</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> due to an increased
participation by our employees in our Early Retirement Program (&#8220;ERP&#8221;). See
&#8220;Retirement Program&#8221;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">The following is
</font><font face="times new roman" lang=IN style="font-size:10.0pt;">our&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> employee
profile by position, educational background</font><font face="times new roman" lang=IN style="font-size:10.0pt;">, and </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">location.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">As of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2015, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">we
had </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">608 senior management
employees, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">compared with </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">541&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> senior management employees as of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2014 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Total middle management </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">employees increased</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> from 4,181 employees </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">as of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2014
to 4,651 employees </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">as of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2015. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Supervisor
level employees decreased</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> from 13,077
employees </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">as of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2014 to 13,017 employees </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">as of December 31,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 2015. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other
employees </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">decreased from 7,485
employees </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">as of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2014 to 6,509 employees </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">as of December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2015. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We did not
employ a significant number of temporary employee in 2015.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:13.5pt;"><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td rowspan=2 valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Position</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=7 valign=bottom width=64% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">As of December 31, 2015</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Telkom</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Subsidiaries</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Telkom Group</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Percentage (</font></b><b><font face="Times New Roman" style="font-size:10.0pt;">%</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">)&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Senior Management</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> 187</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 421</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 608  </font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 2.4</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Middle Management</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 3,281</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 1,370</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 4,651</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 18.8</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Supervisors</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 9,913</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 3,104</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">  13,017</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 52.5</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Others</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 2,716</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 3,793</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 6,509</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 26.3</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;"> 16,097</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;"> 8,688</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;"> 24,785</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;"> 100,0</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our employee
profile based on education level </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">as of
December 31, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#160;2015 was dominated
by university graduate</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> at 12,182 employees, while </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">we had </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#160;4,855
diploma graduate employees,&#160; 5,248 pre-</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">university&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> employees and&#160; 2,500 post-graduate employees. This reflects our focus to recruit highly
educated candidates with the right qualifications to support our growth.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td rowspan=2 valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Level of Education</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=7 valign=bottom width=64% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">As of December 31, 2015</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Telkom</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Subsidiaries</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Telkom Group</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Percentage (</font></b><b><font face="Times New Roman" style="font-size:10.0pt;">%</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">)&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Pre University</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 4,541</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 707</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 5,248</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> 21.2</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Diploma Graduates</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 3,655</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 1,200</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 4,855</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 19.6</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">University Graduates</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 6,082</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 6,100</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 12,182</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 49.1</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Post Graduates</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 1,819</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 681</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 2,500</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;"> 10.1</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;"> 16,097</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;"> 8,688</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;"> 24,785</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;"> 100</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=IN style="font-size:10.0pt;">As of
December 31, 2015, 24,634 of our employees were located in Indonesia and </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">151&nbsp;</font><font face="times new roman" lang=IN style="font-size:10.0pt;"> of our
employees were located outside of Indonesia</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=IN style="font-size:10.0pt;">Retirement
Program</font></b><b><font face="times new roman" lang=IN style="font-size:12.0pt;">
&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">The retirement
age for all our employees is 56 years. </font><font face="times new roman" lang=IN style="font-size:10.0pt;">We have</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> two pension
schemes, which are (</font><font face="times new roman" lang=IN style="font-size:10.0pt;">a</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">) Defined Benefit Pension Plan (&#8220;DBPP&#8221;) which is
applicable to permanent employees who were hired prior to July 1, 2002</font><font face="times new roman" lang=IN style="font-size:10.0pt;"> (other
than our Directors)</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">
and (</font><font face="times new roman" lang=IN style="font-size:10.0pt;">b</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">) Defined
Contribution Pension Plan (&#8220;DCPP&#8221;) which is applicable to all other permanent
employees</font><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">
</font></b><font face="times new roman" lang=IN style="font-size:10.0pt;">(other
than our Directors).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">a.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><i><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Defined Benefit
Pension Plan</font></i><i><font face="times new roman" lang=IN style="font-size:10.0pt;"> (&#8220;</font></i><i><font face="times new roman" lang=EN-US style="font-size:10.0pt;">DBPP</font></i><i><font face="times new roman" lang=IN style="font-size:10.0pt;">&#8221;) &nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">DBPP
is calculated for participants based on years of service, salary level at
retirement and is transferable to dependent families if the respective employee
passes away. Telkom Pension Fund Division administers the program while the
main source of pension fund comes from us and employee contributions. Employees
participate in the program with 18% of their basic salary (before March 2003,
the employee contribution rate was 8.4%) while we contribute the remaining
balance. The minimum monthly pension benefit for retired employees is
approximately Rp</font><font face="times new roman" lang=IN style="font-size:10.0pt;">425,000
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">per
month. Our contribution to the pension fund reached Rp18</font><font face="times new roman" lang=IN style="font-size:10.0pt;">2&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> billion, </font><font face="times new roman" lang=IN style="font-size:10.0pt;">Rpnil&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> and</font><font face="times new roman" lang=IN style="font-size:10.0pt;"> Rpnil</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> for 201</font><font face="times new roman" lang=IN style="font-size:10.0pt;">3</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">, 201</font><font face="times new roman" lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> and 201</font><font face="times new roman" lang=IN style="font-size:10.0pt;">5</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">, respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Telkomsel
operates its own DBPP for its employees. With this program, employees are
entitled to retirement benefits calculated based on their latest basic salary
or take-home pay and years of services. PT Asuransi Jiwasraya (Persero) manages
this program </font><font face="times new roman" lang=IN style="font-size:10.0pt;">under
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">annu</font><font face="times new roman" lang=IN style="font-size:10.0pt;">ity&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> insurance
contracts. Up to 2004, employees would contribute 5% of their monthly basic
salaries to the program, while Telkomsel would contribute the remaining
balance. Since 2005, Telkomsel has contributed the entire amount to the
program, which totaled Rpnil, Rp98 billion and Rp192 billion for 2013, 2014 and
2015, respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="times new roman" lang=EN-US style="font-size:10.0pt;">b.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><i><font face="times new roman" lang=EN-US style="font-size:10.0pt;">Defined
Contribution Pension Plan </font></i><i><font face="times new roman" lang=IN style="font-size:10.0pt;">(&#8220;</font></i><i><font face="times new roman" lang=EN-US style="font-size:10.0pt;">DCPP</font></i><i><font face="times new roman" lang=IN style="font-size:10.0pt;">&#8221;)&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">We
operate a Defined Contribution Pension Plan for permanent employees</font><font face="times new roman" lang=IN style="font-size:10.0pt;"> other
than Directors</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">
who were recruited </font><font face="times new roman" lang=IN style="font-size:10.0pt;">on or </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">after July 1, 2002. DCPP is managed by
several appointed financial institutions pension fund from which employees can
choose. Our contribution to the financial institutions pension fund is
determined by the portion taken from participating employee&#8217;s basic salary,
which </font><font face="times new roman" lang=IN style="font-size:10.0pt;">totaled&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> Rp6 billion,
Rp6 billion and Rp</font><font face="times new roman" lang=IN style="font-size:10.0pt;">7 </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">billion, for 201</font><font face="times new roman" lang=IN style="font-size:10.0pt;">3</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">, 201</font><font face="times new roman" lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> and 201</font><font face="times new roman" lang=IN style="font-size:10.0pt;">5</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">, respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;">To
create a more effective and competitive business environment, we have </font><font face="times new roman" lang=IN style="font-size:10.0pt;">implemented
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">an
Early Retirement Program (&#8220;ERP&#8221;). The ERP is run in line with the
implementation of the 201</font><font face="times new roman" lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> to 201</font><font face="times new roman" lang=IN style="font-size:10.0pt;">8&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> Human Capital
Master Plan </font><font face="times new roman" lang=IN style="font-size:10.0pt;">under
</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;">which
</font><font face="times new roman" lang=IN style="font-size:10.0pt;">we&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> expect to
release </font><font face="times new roman" lang=IN style="font-size:10.0pt;">1,548&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:10.0pt;"> employees. This
program is offered to employees who are deemed to have met certain requirements
in terms of education, age, position and performance. In 2015, we spent Rp683
billion as compensation for 576 employees who participated in the ERP</font><font face="times new roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Management of Employee Relations</font></b><b><font face="Times New Roman" lang=IN style="font-size:12.0pt;"> &nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Pursuant</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
to Presidential Decree No</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">83</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">/</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">1998 regarding Ratification of ILO Convention No.87</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">/</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">1948 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">regarding&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
Freedom of Association and Protection of the Right Organize, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">our&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
employees established SEKAR. As of December 31, 2015, SEKAR </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">represented a total</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> of 14,472 employees or 89.9% of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">our&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> total </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">workforce (excluding the employees of our
subsidiaries).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Pursuant to Law No.13/2003 regarding Manpower and
Regulation of the Minister of Manpower and Transmigration No.PER.16/2011
concerning Procedures, Preparation and Ratification of Company Regulations and
Preparation and Registration of Collective Work Agreement, SEKAR is entitled to
represent employees in the negotiation of collective work agreements with our
management. Our Company and SEKAR entered into a sixth collective work
agreement dated September 18, 2015 (the &quot;Sixth CWA&quot;), which has been
ratified by the Ministry of Manpower and Transmigration. The Sixth CWA is in
effect for a period of two&#160; years</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">The employees of Telkomsel and Infomedia have
also established their employees</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#8217;&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> union</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">s</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. TheTelkomsel&#8217;s employees</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#8217;&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> union,
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#8220;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">SEPAKAT</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#8221;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, has </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">3,652&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> members or </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">78.4%&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> of Telkomsel&#8217;s
total employees. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Neither we nor </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">our&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
subsidiaries have experienced material labor action.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:115%;">E.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:115%;">SHARE OWNERSHIP</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">As of March 21,
2016, none of our Commissioners, Directors or Senior Managers beneficially
owned more than 1.0% of our outstanding shares of common stock. For information
regarding share ownership of our Commissioners, Directors and Senior Management,
see Item 7 &#8220;Major Shareholders and Related Party Transactions &#8211; Major
Shareholders.&#8221;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Employee
Stock Ownership Program</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The Employee
Stock Ownership Program (&#8220;ESOP&#8221;) is an employee-owner scheme that provides our
employee with an ownership interest in our Company. At our initial public
offering on November 14, 1995, a total of 116,666,475 shares were issued to
43,218 employees. On June 14,
2013, we transferred a portion of our treasury stock to our employees as part
of the 2012 annual incentives. On such date, 59,811,400 (equal to 299,057,000
shares after stock split) share of common stock were transferred to 24,993
employees with a total fair value of Rp661 billion. As of March 21, 2016, 110.256.210 of our shares were owned by 14</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">373
of our employees and our
retirees. In 2014 and 2015, we did not conduct the ESOP.</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> We also provide our Commissioners (except for
Independent Commissioners) and Directors with long-termincentives in the form
of shares. See &#8220;Compensation &#8211; Compensation of Commisioners and Directors&#8221;.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Stock Split</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">At our GMS on April
19, 2013, a stock split with a ratio of 1:5 was approved by our shareholders.
New Series B common shares were deposited into shareholders accounts on
September 2, 2013 as part of the stock split. In connection with our stock
split, effective September 3, 2013, we changed the ratio of our ADSs from one
ADS representing 40 Series B common shares, par value Rp250 per share, to one
ADS representing 200 Series B common shares, par value Rp50 per share</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ITEM 7. <a name=MSRPT></a>MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">A.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">MAJOR SHAREHOLDERS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Shareholder
Composition</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our
authorized capital consists of one </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Series
A </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Dwiwarna </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">S</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">hare,
and 399,999,999,999 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Series B (common
stock) shares</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. Our authorized
shares, 100,799,996,400 of which are issued and fully paid, consists of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">one Series A </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Dwiwarna
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">S</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">hare and 100,799,996,399 shares of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Series
B </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">common stock. The</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> Series A</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
Dwiwarna Share is owned by the Government and carries special voting rights,
the right to nominate, and to veto the appointment and removal of, any director
or commissioner, the issue of new shares and amendments to our Articles of
Association including amendments to merge or dissolve us, to increase or
decrease our authorized capital or to reduce our subscribed capital. The
material rights and restrictions applicable to the common stock also apply to
the Dwiwarna </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">S</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">hare, except that the Government cannot transfer the
Dwiwarna </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">S</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">hare. The Government&#8217;s ownership of the Dwiwarna </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">S</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">hare
gives it effective control over our Company even if it reduces its ownership of
our common stock, and its rights with respect to the Dwiwarna </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">S</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">hare
may only be modified by an amendment of our Articles of Association, which the
Government may veto. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The table below sets
forth the composition of our shareholders as of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">March 21</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, 2016.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=50% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Series A Dwiwarna Share</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Series B Shares (Common Stock)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Percentage of Ownership</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Government</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">51,602,353,559</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> 52.55</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Public</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">46,595,863,040</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> 47.45</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Subtotal (Capital issued and
  outstanding)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,198,216,599</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> 100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Treasury Stock</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,601,779,800</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> -</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Total</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">100,799,996,399</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> 100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Shareholders
Owning More Than 5% of Shares (Major Shareholder)</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The table below sets
forth the shareholding of our major shareholder which own more than 5% of our
shares as of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">March 21</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, 2016</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Title of Class</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=30% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Person or Group</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Number of Shares</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Percentage of Ownership</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=23% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Series A Dwiwarna Share</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">Government</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Series B Shares</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=30% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">Government</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">51,602,353,559</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">52.55</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">T</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">he percentage of shares held by Government
was, 53.1%, 52.6% and 52.</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">6</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">% as of March 21, 2014, 2015 and 2016</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
respectively.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_101"></a><a name="_bclPageBorder101"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader101"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Shares Owned by </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Commissioners and </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Directors&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The table below sets forth information regarding persons known to us to
own more than 5% of each class of our shares (whether directly or beneficially
through the ADSs) </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">as of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">March&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> 2</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, 2016. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">No other persons own 5% or more of our shares
of common stock</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Commissioners or
  Directors</font></b></p>
  </td>
 <td valign=bottom width=36% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Number of Shares</font></b></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Percentage of Ownership</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Commissioners </font></b></p>
  </td>
 <td valign=bottom width=36% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;"> </font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;"> </font></b></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=36% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Hendri Saparini</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> 18,982</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&lt;0.01</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=36% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Hadiyanto</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> 519,640</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&lt;0.01</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=36% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Dolfie Othniel Fredric Palit</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> 17,084</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&lt;0.01</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=36% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Directors</font></b></p>
  </td>
 <td valign=bottom width=36% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=36% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Alex J Sinaga</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> 42,723</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&lt;0.01</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=36% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Indra Utoyo</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> 1,182,295</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&lt;0.01</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=36% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Honesti Basyir</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> 1,155,295</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&lt;0.01</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=36% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Muhammad Awaluddin</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> 1,154,755</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&lt;0.01</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=36% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Heri Sunaryadi</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> 37,965</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&lt;0.01</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=36% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Abdus Somad Arief</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> 37,965</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&lt;0.01</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=36% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Herdy Rosadi Harman</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> 37,663</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&lt;0.01</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=bottom width=36% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Dian Rachmawan</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> 98,505</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&lt;0.01</font></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Total</font></p>
  </td>
 <td valign=bottom width=36% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;"> 4,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">302</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">872&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&lt;0.01</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Shareholders
Owning Less Than 5% of Shares</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The table below sets
forth the shareholding of our shareholders which owned less than 5% of our
shares of common stock as of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">March&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> 2</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, 2016.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td width=60% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Group</font></b></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td width=18% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Number of Shares of Common Stock Owned</font></b></p>
  </td>
 <td width=2% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td width=18% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Percentage of Ownership</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Foreign</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=top width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;"> </font></p>
  </td>
 <td valign=top width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Business
  Entities</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">38,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">302</font><font face="Times New Roman" style="font-size:9.0pt;">,8</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">01</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">269&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">9</font><font face="Times New Roman" style="font-size:9.0pt;">.</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">01&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Individuals</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">13,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">581</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">9</font><font face="Times New Roman" style="font-size:9.0pt;">00&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.01</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Local</font></b></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Business
  Entities</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;"><font face="Times New Roman" style="font-size:9.0pt;">Companies</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,4</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">05</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">353</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">212&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.4</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">5&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;"><font face="Times New Roman" style="font-size:9.0pt;">Mutual
  Funds</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">795</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">943</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">032&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.8</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">5&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;"><font face="Times New Roman" style="font-size:9.0pt;">Insurance
  Companies</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">2</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">034</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">0</font><font face="Times New Roman" style="font-size:9.0pt;">3</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">1</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">45</font><font face="Times New Roman" style="font-size:9.0pt;">0&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2.0</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;"><font face="Times New Roman" style="font-size:9.0pt;">Pension
  Funds</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">89</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">183</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">1</font><font face="Times New Roman" style="font-size:9.0pt;">50&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.6</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">0&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;"><font face="Times New Roman" style="font-size:9.0pt;">Others
  Business Entities</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">7</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">3</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">004</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">4</font><font face="Times New Roman" style="font-size:9.0pt;">90&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.0</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:9.0pt;">Individuals</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">381</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">964</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">537&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">0.</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">39&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">46,595,863,040</font></b></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">47.45</font></b></p>
  </td>
 <td valign=top width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Relationship
with the Government and Government Agencies</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our
relationship with the Government is multi-faceted. The Government is our
majority and controlling shareholder. It is also our regulator as it adopts,
administers and enforces relevant laws that regulate telecommunications sector,
sets tariffs and issues licenses. It is also one of our customers and one of
our lenders.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">As used in
this section, the term &#8220;Government&#8221; includes the Government of Indonesia and
its ministries, directly-owned government departments and agencies, but
excludes SOEs.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The
Government as Shareholder</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The
Government is our majority and controlling shareholder and own</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ed&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
52.55% of our </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">issued and outstanding </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">common stock as of March 21, 201</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">6</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. Its
ownership of the Dwiwarna Share gives it special voting and veto rights. Under
the relevant laws, the &#8220;ownership&#8221; of our common stock and the single
outstanding Dwiwarna </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">S</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">hare is vested in the Ministry of Finance. In
turn, and under the authority of the Ministry of Finance, the MSOE exercises
the rights vested in these securities as our &#8220;controlling shareholder.&#8221;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">As our
majority shareholder and controlling shareholder, the Government has an
interest in our performance, both in terms of the service we provide to the
nation and our ability to operate on a commercial basis. The material rights
and restrictions that apply to our common stock also apply to the Dwiwarna
Share, except that the Government may not transfer the Dwiwarna Share, and has
right of veto with regard to: (1) the nomination, appointment and removal of
our Directors; (2) the nomination, appointment and removal of our
Commissioners; (3) the issuance of new shares and (4) any amendments to our
Articles of Association, including with respect to actions to merge or dissolve
our Company, increase or reduce our authorized capital, or reduce our
subscribed capital. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Accordingly,
the Government effectively has control over these matters even if it owns less
than a majority share of the outstanding </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">hares of common stock. The Government&#8217;s rights
with respect to the Dwiwarna Share will not expire unless there is a change
that requires the amendment of our Articles of Association, which would require
the consent of the Government as the holder of Dwiwarna </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">S</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">hare.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The Government as Regulator</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The Government regulates the telecommunications sector through the
MoCI. The MoCI has the authority to issue regulations that implement laws,
which are typically broad in scope. Through such decrees the MoCI defines the
structure of the industry, determines tariff formulas, establishes our USO, and
otherwise controls many factors that could influence our competitive position,
operations and financial position. Through the DGPT, the MoCI regulates the
allocation of frequencies and sets numbers for fixed telephone lines. We are
required to obtain a license from the DGPT for each type of service offered,
including licenses for the frequencies we use (as allocated by the MoCI). We
and other operators are required to pay frequency usage fees. Telkomsel also
holds licenses issued by the MoCI (some of which were previously issued by the
Minister of Communications) for the provision of cellular services, and from
the Indonesian Investment Coordinating Board in relation to Telkomsel&#8217;s
investments for the development of cellular phone services with national
coverage, including the expansion of network coverage. The Government, through
the MoCI as regulator, has the authority to issue new licenses for the
establishment of new joint ventures and other new arrangements, particularly in
telecommunications.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Certain licenses require us to pay a concession fee to operate. We pay
concession fees for telecommunications services provided and radio frequency
usage charges to the MoCI. Concession fees amounted to Rp496 billion in 2014,
and Rp570 billion (US$41 million) in 2015. Concession fees as a percentage of
total expenses amounted to 0.8% in 2014 and 2015. Radio frequency usage charges
amounted to Rp3,207 billion in 2014, and Rp3,626 billion (US$263 million) in
2015. Radio frequency usage charges as a percentage of total expenses amounted
to </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">5.2</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">% in 2014 and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">5.1</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">% in 2015. USO charges to the MoCI amount</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ed&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> to
Rp1,322 billion in 2014, and Rp1,660 billion (US$120 million) in 2015. USO
charges as a percentage of our total expenses amounted to 2.</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">% in
2014 and 2.</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">3</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">% in 2015.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The Government as Lender</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">In July 1994, the Government arranged a facility under which certain
foreign institutions provided us with a two-step loan for certain expenditures
(the &#8220;sub-loan borrowings&#8221;). The sub-loan borrowings were made through the
Government and are guaranteed by it. As of December 31, 2015, we had a total of
Rp1,</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">520&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> billion (US$</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">110&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> million),&#160; in such outstanding two-step
loans, including current maturities. We are required to pay the Government
interest and repay the principal, which the Government then remits to the
respective lenders. As of December 31, 2015, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">76.0</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">% of such sub-loan
borrowings were denominated in foreign currencies, with the remaining </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">24.0</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">%
denominated in Rupiah. In 2015, the annual interest rates charged </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">8.5</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">% on
loans repayable in Rupiah, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">4.0</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">% on those denominated in US Dollar and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">3.1</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">% for
those denominated in Japanese Yen.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The
Government as Customer</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Certain
Government departments and agencies purchase services from us as direct
customers, the terms of which are negotiated on a commercial basis. No services
are provided for free or on an in-kind basis. We deal with these departments
and agencies as separate customers. In 2015, the amount of revenues from
Government departments and agencies was Rp</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1,856&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> billion, which was approximately </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1.81</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">% of
our consolidated revenues and did not constitute a material part of our
revenues. The Government departments and agencies are treated for tariff
purposes with respect to connection charges and monthly charges as
&#8220;residential&#8221;, which tariffs are lower than the business service rates. This
does not apply to the tariffs for local, long distance and IDD calls.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">It is our
policy not to enter into any transactions with affiliates unless the terms are
no less favorable to us than they would be with a third party. The MSOE has
advised us that it would not cause us to enter into transactions with other
entities under its control unless the terms were consistent with our policy as
referred to above.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Pursuant to
OJK regulations, because we are listed on the IDX, any transaction where there
is an inherent conflict of interest (as defined below) with another IDX-listed
company must be approved by majority of the holders of our shares of common
stock who do not have a conflict of interest in the proposed transaction, unless
such conflict of interest existed before listing and was fully disclosed in the
offering documents.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">OJK
regulations define a conflict of interest as a conflict between our economic
interests and the shareholders&#8217; interests on the one hand, and on the other,
the personal economic interests of members of the Board of Commissioners, Board
of Directors or other principal shareholders (defined as a holder of 20% or
more of our shares of common stock) or their affiliates, either jointly or
individually. A conflict of interest also exists if a member of the Board of
Commissioners or Board of Directors or a principal shareholder or their
respective affiliates is involved in a transaction in which its personal
interests may be in conflict with ours. OJK has the authority to enforce these
rules regarding conflicts of interest and holders of our shares of common stock
are also entitled to bring a suit to enforce these.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Under OJK
regulations, transactions between us and other State-Owned or controlled
enterprises may cause a conflict of interest. In such cases, the approval of
the disinterested shareholders must be obtained if a conflict of interest
arises. We believe that many transactions conducted with State-Owned or
controlled enterprises are on an arms-length, commercial basis and do not
constitute conflict of interest transactions that would require an independent
shareholders vote. Such transactions include our sale of telephone services to
State-Owned or controlled enterprises and our purchase of electricity from a</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">n SOE</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. We
expect that from time to time, in connection with the development and growth of
our business we would enter into joint ventures, agreements or transactions
with such enterprises. Under such circumstances, we may consult OJK to
determine whether a proposed joint venture, agreement or transaction would
require a vote of independent shareholders under OJK rules. If OJK is of the
view that such transaction would not require such a vote, we would proceed
without seeking the independent shareholders&#8217; approval. Otherwise, we would
seek the requisite approval or abandon the proposed action.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Proportion of Common Stock Held in Indonesia and
Abroad</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">As of March 21, 201</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">6</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, we had </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">38</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">727 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">common stock</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
shareholders</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, including the
Government. This total includes </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">39,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">304</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">,1</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">12</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">969 shares of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">common stock owned by </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">2,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">095 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">shareholders
outside Indonesia. As of the same date, there were 91 ADS
shareholders who owned </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">44,381,083 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ADS</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> (1 ADS
is equivalent to 200 shares of common stock).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Change in Control</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">As of the date of this Annual Report, we are not aware of any plans or
developments that could result in a change of control over us, including
changes that are still at the planning stage.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">B.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">RELATED PARTY TRANSACTIONS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We are party to certain agreements and engage in transactions with
certain parties that are related to us, such as cooperatives and foundations.
Such parties include the Government and entities related to or owned or
controlled by the Government, such as other </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">SOEs</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. For further details on our related party
transactions, see Note 3</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">4&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> to our Consolidated Financial Statements.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">C.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">INTEREST OF EXPERTS AND COUNSEL</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Not
applicable.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ITEM 8. <a name=FI></a>FINANCIAL INFORMATION</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">A.&#160;&#160;&#160; CONSOLIDATED STATEMENTS AND OTHER FINANCIAL
INFORMATION</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">See Item 18
&#8220;Financial Statements&#8221; for our audited Consolidated Financial Statements filed
as part of this Form 20-F. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Material Litigation</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">In the
ordinary course of business, we have been named as defendant in various legal
actions </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">in relation with</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> land disputes, monopolistic practice and
unfair business competition and SMS cartel practices. Based on management's
estimates on the probable outcomes of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">these
matters</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, we have </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">recognized </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">provisions for losses amounting to Rp25 billion as of December 31,
2015. See Note </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">37&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> to our Consolidated Financial Statements. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our Company is a defendant in a case filed in Makassar District Court
by Andi Jindar Pakki and his affiliates over a land property at Jl. A.P.
Pettarani. On May 8, 2013, the court pronounced its verdict and ordered our
Company to pay fair compensation or to vacate and surrender the disputed land
to the plaintiffs.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">On May 20, 2013, our Company filed an appeal to the Makassar High
Court, objecting to the District Court&#8217;s ruling. In December 2013, the Makassar
High Court pronounced its verdict that was favorable to the plaintiffs and our
Company filed an appeal to the Supreme Court. On January 9, 2015, our Company
received </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the Supreme Court</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Notice</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
No.226/Pdt.5/2012/PN.MKS regarding the case which rejected </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">our Company&#8217;s appeal. On February 5, 2015, our
Company requested for a </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">judicial review </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">of the case by the Supreme Court.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">On
December 16, 2015, through its letter No.336 PK/Pdt/2015, the SC decided on the
case in favor of the Company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">In 2015,
there were no legal proceedings involving any serving Commisioner </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">or&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
Director.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Dividend
Policy</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">An </font><font face="Times New Roman" lang=EN-GB style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">AGMS has the authority to determine the amount of dividends we
pay. Our dividend payout ratio for 2015 will be decided at the AGMS scheduled
for 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">6</font><font face="Times New Roman" lang=EN-GB style="font-size:10.0pt;letter-spacing:.1pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-GB style="font-size:10.0pt;letter-spacing:.1pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">Dividend Year</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">Date of AGMS</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">Payout Ratio (%)<sup>1</sup></font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">Amount of Dividends</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">(Rp million)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">Dividend per Share
  After Stock Split (Rp)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">2010</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">May 19, 2011</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">55</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">6,345,350<sup>2</sup></font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">64.52</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">2011</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">May 11, 2012</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">65</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">7,127,333<sup>3</sup></font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">74.21</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">2012</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">April 19, 2013</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">8,352,597<sup>4</sup></font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">87.24</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">2013</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">April 4, 2014</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">70</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">9,943,294<sup>5</sup></font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">102.40</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">2014</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">April 17, 2015</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">60</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">8,782,812<sup>6</sup></font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">89.46</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" lang=EN-GB style="font-size:9.0pt;letter-spacing:.1pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(1)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">Represents the percentage of profit
attributable to owners of the parent paid to shareholders in dividends.</font></p>

<p style="margin-bottom:0in;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(2)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">Including interim cash dividend
paid in December 2010 and January 2011 amounting to Rp276,072 million and
Rp250,085 million respectively.</font></p>

<p style="margin-bottom:0in;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(3)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">Consists of cash dividend amounting
to Rp6,030,820 million and special cash dividend amounting Rp1,096,513 million.</font></p>

<p style="margin-bottom:0in;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(4)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">Consists of cash dividend amounting
to Rp7,067,582 million and special cash dividend amounting Rp1,285,015 million.</font></p>

<p style="margin-bottom:0in;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(5)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">Consists of cash dividend amounting
to Rp7,812,588 million and special cash dividend amounting Rp2,130,706 million.</font></p>

<p style="margin-bottom:0in;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(6)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">Consists of cash dividend amounting
to Rp7,319,010 million and special cash dividend amounting Rp1,463,802 million.</font></p>

<p style="margin-bottom:0in;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Telkomsel
Dividend</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN style="font-size:10.0pt;line-height:normal;">Pursuant to the AGMS on April 2, 2015, Telkomsel
approved, the payment of a cash dividends in the amount of Rp17,463 billion,
which represented 90% of Telkomsel's net profits in 2014, and by a
shareholders&#8217; resolution dated September 23, 2015, Telkomsel approved the
payment of an additional cash dividend in the amount of Rp4,851 billion which
represented 25% of Telkomsel&#8217;s net profits in 2014. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We are entitled to receive 65% of any dividens
approved for payment by Telkomsel by virtue of our shareholding therein.</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">B.&#160;&#160;&#160; SIGNIFICANT CHANGES</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-autospace:ideograph-other;">See Note 4</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-autospace:ideograph-other;">1&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-autospace:ideograph-other;"> to our Consolidated Financial Statements.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ITEM 9. <a name=TOAL></a>THE OFFER AND LISTING</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">A.&#160;&#160;&#160; OFFER AND LISTING DETAILS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:0pt;line-height:normal;">The table below shows the high, low,
closing quoted prices, trading volume, outstanding shares and market
capitalization for our common stock on the IDX during the periods indicated:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=10% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=5 valign=bottom width=34% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Price per Share of Common Stock</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Volume (shares)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Outstanding Shares</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Market Capitalization (Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=2 valign=bottom width=28% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Calendar Year</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">High</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Low</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Closing</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=bottom width=34% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(in Rupiah)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">2011</font></b></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,610</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,320</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,410</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">22,207,895,000</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">96,931,696,600</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">142,128</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">2012</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,990</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,330</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,810</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">23,002,802,500</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">95,745,344,100</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">182,448</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,580</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,760</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,150</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">27,839,305,000</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">97,100,853,600</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">216,720</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,010</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,060</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,865</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">24,035,761,600</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,175,853,600</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">288,792</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">First Quarter</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,420</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,060</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,215</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6,647,275,800</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">97,100,853,600</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">223,272</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Second Quarter</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,700</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,150</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,465</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">6,736,807,600</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,175,853,600</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">248,472</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Third Quarter</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,010</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,465</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,915</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,313,076,900</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,175,853,600</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">293,832</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Fourth Quarter</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,930</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,590</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,865</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,338,601,300</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,175,853,600</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">288,792</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,170</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,485</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,105</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">18,742,850,400</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,175,853,600</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">312,984</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">First Quarter</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,020</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,770</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,890</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">5,209,728,100</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,175,853,600</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">291,312</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Second Quarter</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,955</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,595</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,930</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,816,156,800</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,175,853,600</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">295,344</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Third Quarter</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,970</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,485</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,645</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,061,559,500</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,175,853,600</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">266,616</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Fourth Quarter</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,170</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,600</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,105</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">4,655,406,000</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,175,853,600</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">312,984</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">September</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,875</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,485</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,645</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,156,524,800</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,175,853,600</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">266,616</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">October</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,830</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,600</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,680</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,525,378,700</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,175,853,600</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">270,144</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">November</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,980</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,660</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,930</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,506,268,100</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,175,853,600</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">295,344</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">December</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,170</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">2,900</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,105</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,623,759,200</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,198,216,600</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">312,984</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">2016</font></b></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">January</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,385</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,125</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,340</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,748,979,300</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,198,216,600</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">336,672</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">February</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,370</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,140</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3,250</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">1,932,672,100</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">98,198,216,600</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">327,600</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(1)</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:9.0pt;line-height:normal;">We conducted a two for one split of
our common stock from a nominal value of Rp500 per share to Rp250 per share as
resolved by the AGMS on July 30, 2004, effective October 1, 2004.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(2)</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:9.0pt;line-height:normal;">We conducted a five for one split of
our common stock from a nominal value of Rp250 per share to Rp50 per share as
resolved by the AGMS on April 19, 2013, effective September 2, 2013</font><b><i><font color=windowtext face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">.&nbsp;</font></i></b><font color=windowtext face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(3)</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:9.0pt;line-height:normal;">The price per share of the common
stock reflects th</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">e&nbsp;</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:9.0pt;line-height:normal;"> two </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">stock </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:9.0pt;line-height:normal;">splits&nbsp;</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;"> mentioned</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:9.0pt;line-height:normal;">
above</font><i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:9.0pt;line-height:normal;"> </font></i><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:9.0pt;line-height:normal;">for all periods shown.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(4)</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:9.0pt;line-height:normal;">Market capitalization is the product
of share price and issued and fully paid shares which is 100,799,996,400
shares.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;">On the
last day of trading on the IDX in 2015, which was December 30, 2015, the
closing price for our common stock was Rp3,105 per share.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:.15pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;">In the table below, we present the ADS price (high, low,
and closing) and ADS trading volume on the New York Stock Exchange
(&quot;NYSE&quot;) and the London Stock Exchange (&quot;LSE&quot;) for the
indicated periods.</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> Effective June 5, 2014, due to the low level of our ADSs
traded, we delisted our ADSs from the LSE</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;"> &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:.15pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=8% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=5 valign=bottom width=26% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">Price per ADS (NYSE)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">Volume</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=5 valign=bottom width=26% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">Price per ADS (LSE)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">Volume (in ADS)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=2 valign=bottom width=24% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">Calendar Year</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">High</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">Low</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">Closing</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">(in ADS)</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">High</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">Low</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">Closing</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=5 valign=bottom width=26% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">(in US Dollars)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=5 valign=bottom width=26% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">(in US Dollars)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">2011</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">36.96</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">30.29</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">30.74</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">69,279,100</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">35.89</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">21.02</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">30.50</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">1,406,292</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">2012</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">41.14</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">29.26</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">36.95</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">88,190,589</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">40.12</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">30.24</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">36.50</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">746,278</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">50.61</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">33.75</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">35.85</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">67,061,105</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">50.59</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">33.44</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">35.33</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">6,579,103</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">48.75</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">33.91</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">45.23</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">52,250,948</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">43.75</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">38.42</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">12,008</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">First
  Quarter</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">40.59</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">33.91</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">39.37</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">16,346,799</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">39.55</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">38.42</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">39.55</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">986</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">Second
  Quarter</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">44.45</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">39.00</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">41.66</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">16,409,533</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">43.75</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">39.95</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">43.00</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">11,022</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">Third
  Quarter</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">48.75</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">41.69</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">48.10</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">9,670,921</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">Fourth
  Quarter</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">48.43</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">42.29</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">45.23</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">9,823,695</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">47.07</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">34.09</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">44.40</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">43,719,116</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">First
  Quarter</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">47.07</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">41.11</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">43.54</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">9,175,837</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">Second
  Quarter</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">44.95</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">40.51</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">43.39</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">10,897,235</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">Third
  Quarter</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">43.97</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">34.09</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">35.65</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">10,220,243</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">Fourth
  Quarter</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">45.51</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">34.93</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">44.40</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">13,425,801</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">September</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">40.32</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">34.09</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">35.65</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">3,973,606</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">October</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">41.31</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">34.93</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">39.76</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">4,939,512</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">November</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">42.99</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">39.22</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">42.51</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">3,893,219</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">December</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">45.51</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">40.77</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">44.40</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">4,593,070</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">2016</font></b></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">January</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">49.08</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">42.44</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">49.00</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">4,551,440</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">February</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">49.81</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">47.99</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">49.05</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">3,951,637</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.15pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:.15pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;line-height:normal;">On the last day of trading on the NYSE in 2015, which was
December 31, the closing price for one Telkom ADS on the NYSE was US$</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> 44.40. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;line-height:normal;">On the last day of trading on the LSE, which was </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">June 4, 2014, the closing price for one Telkom ADS on
the LSE was </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;line-height:normal;">US$</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">43.00.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">B. PLAN OF DISTRIBUTION</font></b></p>

<p style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Not applicable.</font></p>

<p style="margin-bottom:6.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.2pt;line-height:normal;">C.</font></b><b><font color=windowtext face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:.2pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.2pt;line-height:normal;">MARKETS&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.2pt;line-height:normal;">Our common stock is listed and traded on the IDX. Our ADSs are also
listed and traded on the NYSE with one ADS representing 200 shares of </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:.2pt;line-height:normal;">c</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.2pt;line-height:normal;">ommon </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:.2pt;line-height:normal;">s</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.2pt;line-height:normal;">tock. &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:.2pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The Indonesian Stock Market</font></b></p>

<p style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">Indonesia&#8217;s
stock market, known as the IDX, emerged out of the December 1, 2007 merger of
two stock exchanges operating in two different locations in Indonesia,</font><font color=windowtext face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;"> namely</font><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;"> the Jakarta
Stock Exchange which was located in Jakarta, the capital city of Indonesia, and
the Surabaya Stock Exchange which was located in Surabaya in East Java.</font></p>

<p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">As of December 31, 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;">5</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">, the IDX had 521 issuers for
equity and 109 active brokerage houses. In 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;">5</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">, IDX recorded a trading volume of 126</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;"> billion</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> shares. As </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;">of&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> December 31, 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;">5</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">, the total market capitalization was valued at Rp4,873
trillion (US$ 356billion).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">Trading is divided into three segments: the regular
market, negotiated market and the cash market (except for rights issues, which
can only be traded on the cash market and the negotiated market</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;"> for the first session)</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">. The regular market is the
mechanism for trading stock in standard lots on a continuous auction basis
during exchange hours. Auctions on the IDX on regular market and cash market take place according to the price and time
priorities. Price priority refers to the giving of priority to buying orders at
a higher price or selling orders at a lower price. If buying or selling orders
are placed at the same price, priority is given to the earlier placed buying or
selling order (time priority). Trading on the negotiated market is conducted
through direct negotiation between (i) IDX members, (ii) clients through one
IDX member, (iii) a client and an IDX member, or (iv) an IDX member and the PT
Kliring Penjaminan Efek Indonesia (&#8220;KPEI&#8221;). KPEI provides clearing and
guarantee services of stock exchange transactions settlement. It also improves
efficiency and certainty of transactions settlement on the IDX.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">The Decree of the Board of Directors of the IDX</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> </font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;">No. Kep-00399/BEI/11-2012 provides
that, effective January 2, 2013, the</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> trading sessions of the IDX is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><b><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Trading Session</font></b></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><b><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Market</font></b></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><b><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Day</font></b></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><b><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Trading Hours</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><b><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=23% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Pre-opening</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Regular</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Monday - Friday</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">08.45.00-08.55.00</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=23% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">1<sup>st</sup></font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Regular</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Monday - Thursday</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">09.00.00-12.00.00</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=23% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Cash</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Friday</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">09.00.00-11.30.00</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Negotiation</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=23% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">2<sup>nd</sup></font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Regular</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Monday - Thursday</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">13.30.00-15.49.59</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=23% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Friday</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">14.00.00-15.49.59</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=23% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Negotiation</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Monday - Thursday</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">13.30.00-16.15.00</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Friday</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">14.00.00-16.15.00</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=23% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Pre-closing</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Regular</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Monday - Friday</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">15.50.00-16.00.00</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Post </font><font color=windowtext face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">t</font><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">rading&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Regular</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Monday - Friday</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">16.05.00-16.15.00</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;"><font color=windowtext face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=windowtext face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">The Decree of the Board of Directors of the IDX No. </font><font face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;">Kep-00071/BEI/11-2013, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">effective January 2, 2013,
reduced lot size from 500 shares to 100 shares, and changed the tick price</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> and maximum share price movement to the following:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border:none;border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td colspan=5 valign=bottom width=52% style="border-bottom:solid black 1.0pt;border-top:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Previous</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td colspan=5 valign=bottom width=48% style="border-bottom:solid black 1.0pt;border-top:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">New</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Group
  Price</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Tick
  Price</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Maximum
  Share Price Movement</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Group
  Price</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid black 1.0pt;border-top:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Tick
  Price</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid black 1.0pt;border-top:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Maximum
  Share Price Movement</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&lt;Rp200</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp10</font></p>
  </td>
 <td rowspan=2 valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td rowspan=2 valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&lt;Rp500</font></p>
  </td>
 <td rowspan=2 valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td rowspan=2 valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp1</font></p>
  </td>
 <td rowspan=2 valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td rowspan=2 valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp20</font></p>
  </td>
 <td rowspan=2 valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp200
  &#8211; &lt;Rp500</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp5</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp50</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp500
  &#8211; &lt;Rp2,000</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp10</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp100</font></p>
  </td>
 <td rowspan=2 valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td rowspan=2 valign=bottom width=20% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp500
  &#8211; &lt;Rp5,000</font></p>
  </td>
 <td rowspan=2 valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td rowspan=2 valign=bottom width=11% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp5</font></p>
  </td>
 <td rowspan=2 valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td rowspan=2 valign=bottom width=17% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp100</font></p>
  </td>
 <td rowspan=2 valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp2,000
  &#8211; &lt;Rp5,000</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp25</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp250</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#8805;Rp5,000</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp50</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp500</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#8805;Rp5,000</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp25</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid black 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp500</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">Transactions on the IDX regular market must be settled no
later than the third trading day after the transaction. Transactions on the
negotiated market are settled on the basis of the agreement between the selling
exchange members and the buying exchange members, on a transaction by
transaction basis. Transactions on the IDX cash market must be settled on the
day of the transaction and reported to the IDX. If an exchange member defaults on
the settlement of a transaction, the securities can be traded by direct
negotiation on cash and carry terms. Each exchange member is required to pay a
transaction fee as stipulated by the IDX. Any delay in payment of the
transaction fee is subject to a fine of 1.0% of the outstanding amount </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;">of the payment </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">for each day of delay. The IDX
may impose sanctions on its members for any violation of exchange rules, which
may include fines, written warnings, suspension or revocation of licenses.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">When conducting share transactions on the IDX, each
exchange member is required to pay a transaction cost for transactions on the
regular market and cash market of 0.03%, guarantee fund of 0.01% of the
transaction value and VAT and other tax obligation. For the negotiated market,
a transaction cost of 0.03% or an amount as stipulated by the IDX is
applicable. A </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">minimum monthly transaction fee of Rp2 million is applied as a
contribution for the provision of exchange facilities and continues in effect
for members who are suspended or whose Exchange Member Approval </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">is </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">revoked.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Since the global
financial crisis in the last quarter of 2008 that caused typical share price
movements, the IDX has applied a policy of auto rejection, a mechanism whereby
share trading can be halted automatically in order to maintain orderly, fair
and efficient trading. Following changes made by the IDX in October 2008 and
January 2009 the auto rejection trigger levels are 35% above or below the
reference price for stocks in the Rp50 to Rp200 price range, 25% for stocks in
the Rp200 to Rp5,000 price range, and 20% for stocks priced more than Rp5,000.
The auto rejection level in the case of an initial public offering is
determined at a level which is twice as high as for normal trading. Auto
rejection also arises when selling offer or buying request volume reaches over
5 billion shares or 5% of total shares listed, whichever is smaller.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;">Trading </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:.15pt;">o</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;">n </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:.15pt;">t</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;">he N</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:.15pt;">YSE &nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">See
Item 12 &#8220;Description of Securities </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">o</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ther </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">t</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">han Equity Securities&#8221;.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">D.
SELLING STOCKHOLDERS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Not applicable.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_108"></a><a name="_bclPageBorder108"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader108"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">E. DILUTION</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Not applicable.</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">F. EXPENSES OF THE ISSUE</font></b></p>

<p style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Not applicable</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ITEM 10. <a name=ADDIN></a>ADDITIONAL INFORMATION</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">A. SHARE CAPITAL</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Not applicable.</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">B. MEMORANDUM AND ARTICLES OF
ASSOCIATION </font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Description of Articles of
Association</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our Articles of Association are registered in accordance with Law No.1
of 1995 on Limited Liability Companies, and approved by Ministerial Decree
No.C2-7468.HT.01.04.Th.97 of 1997. Following the enactment of the Indonesian
Company Law which revoked Law No.1 of 1995 on Limited Liability Companies, we
amended our Articles of Association which was approved by the Ministry of Law
and Human Rights of the Republic of Indonesia pursuant to the Decree of the
Ministry of Justice and Human Rights No.AHU.46312.AH.01.02 of 2008 dated July
31, 2008 and registered in the State Gazette of the Republic of Indonesia No.84
dated October 17, 2008, Supplement to State Gazette No.20155.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our Articles of
Association have been amended several times, the latest amendment of which primarily
related to (i) certain adjustments
as required under </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">OJK </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">rules and</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(ii)
the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">change in certain of
restriction</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s to the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">authority </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">of
our Directors with respect to</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
resolution</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> of the Board of Directors
which require the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">approval of the
Board of Commissioners. This last </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">amendment
was accepted and approved </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">by </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Ministry
of Law and Human Right </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">in its </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Letter No.AHU-AH.01.03-0938775 dated June 9,
2015 and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">D</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ecision No.AHU-0936901.AH.01.02.Th.2015 dated June 9,
2015.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">In accordance with Article 3 of our Articles of Association, the scope
of our activities </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">is </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">to provide telecommunication network
and telecommunication and information services, and to optimize our Company&#8217;s
resources with due attention to prevailing laws and regulations. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In order to achievethe aforementioned</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> objectives, we may undertake business
activities that incorporate the following: </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Main Business</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Planning, building, providing, developing,
operating, marketing or selling, leasing, and maintaining telecommunications
and information networks in the broadest sense in accordance with prevailing
regulations.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Planning, developing, providing, marketing/ or
selling, and improving telecommunications and information services in a the broadest
sense with due attention to prevailing regulations.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Investing including the
equity capital of other companies in order to </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">achieve our </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">purposes and
objectives.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Supporting Business</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Providing payment transactions and money
transferring services through telecommunications and information networks.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Performing activities and other undertakings
in connection with the optimization of our Company's resources, which among
others, include the utilization of our property and equipment and movable
assets, information systems, education and training, and repairs and
maintenance facilities.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Collaborating with other
parties in order to optimize the information, communication or technology
resources owned by other parties as a service provider in the information,
communication and technology industries in order to achieve</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> our </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">purposes and objectives. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">In accordance with the Indonesian Company Law, we have a Board of
Commissioners and a Board of Directors. These boards are separate and no
individual may be a member of both boards. Each Director receives a bonus if we
surpass certain financial and operating targets, the amounts of which are
determined by the shareholders at the AGMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our Articles of Association state that any transaction involving a
conflict of interest between our Company and our Directors, Commissioners and
shareholders should be approved by a shareholders meeting, where approval is
required from more than half of the votes of the independent shareholders.</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">A member of the Board of Directors shall
have no right to represent </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">our&nbsp;</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;"> Company if such member has a conflict of
interest with </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">our&nbsp;</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;"> Company. To take any legal actions in the
form of transactions </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">in which a </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">conflict of interests </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">exists </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">between
the personal economic interest of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">a
</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">Director, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">a </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">Commissioner or </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">a </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">shareholder and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">our&nbsp;</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">
Company&#8217;s economic interest, the Board of Directors </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">must obtain </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">the approval of a G</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">MS</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">. Such G</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">MS&nbsp;</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">
must be attended by independent shareholders (i.e. those shareholders having no
conflict of interest) who hold more than one-half of the total number of shares
with valid voting rights held by all independent shareholders and the
resolution must be passed by the affirmative votes of independent shareholders
holding more than one-half of the total number of shares with valid voting rights.
In passing any resolutions, the</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">
principal</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;"> shareholders, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">the </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">Directors and Commissioners</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">
who have</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;"> conflicts of
interests</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> in </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">the transaction that is being decided </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">are&nbsp;</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;"> not be entitled to give any recommendation or opinion. Any resolution
passed by independent shareholders shall be confirmed by the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">entire quorum of the </font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">meeting to be followed by all shareholders
present in the meeting, including those </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">having&nbsp;</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;"> conflicts of
interest.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">Compensation of members of the Board of
Directors is decided at a G</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">MS</font><font face="Times New Roman" lang=EN-SG style="font-size:10.0pt;">, although the authority may be delegated
to the Board of Commissioners, in which case compensation shall be determined
based on a resolution of the Board of Commissioners.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Our Articles of Association require our Board of
Directors to obtain the written approval of our Board of Commissioners in order
to obtain (i) any loan with a term of less than one year for non-operational
purposes and (ii) any loan with a term of more than one year, in each case
which quantum exceeds an amount specified under a working plan and budget which
has been validated by our Board of Commissioners. The borrowing powers of our
Board of Directors may only be varied through an amendment to the Articles of
Association</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The Board of Directors is responsible for leading and managing our
Company in accordance with our objectives and purposes and to control, preserve
and manage the assets of our Company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Our Articles of Association do not contain any requirement for our
Directors to: (i) retire by a specified age, or (ii) to own any or a specified
number of shares of our Company. The rights, preferences and restrictions
attaching to each class of the shares of our Company in respect of specified
matters are set forth below:</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Dividend rights</font></i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. Dividends are to be paid based upon our
financial condition and in accordance with the resolution of the shareholders
in a GMS, which will also determine the form of and time of payment of the
dividend;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Voting rights</font></i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. The holder of each voting share is entitled
to one vote at a GMS;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rights to share in our
Company&#8217;s profits</font></i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. See
dividend rights;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rights to share in any
surplus in the event of liquidation</font></i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. Stockholders are entitled to surplus in the event of liquidation in
accordance with their proportion of shareholding, provided the nominal value of
the common stock that they hold is fully paid-up;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Redemption provisions</font></i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. There are no stock redemption provisions in
our Articles of Association. However, based on Article 37 of the Indonesian
Company Law, we may buy back up to 10% of our issued and outstanding shares;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Reserved fund
provisions</font></i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. We are required
to set aside retained earnings in the amount of at least 20% of our issued
capital to cover potential losses. If the amount in the reserved fund exceeds
20% of our issued capital, a GMS may authorize us to utilize such excess funds
for the purposes of our Company;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Liability for further
capital calls</font></i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. Our
shareholders may be asked to subscribe for new shares in our Company from time
to time. Such rights are to be offered to shareholders prior to being offered
to third parties and may be transferred at the option of the shareholder. Our
Board of Directors is authorized to offer the new shares to third parties in
the event that an existing shareholder is unable or unwilling to subscribe for
such new shares; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=IN style="font-size:10.0pt;line-height:normal;">-</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Provisions
discriminating against any existing or prospective holder of such securities
because of such shareholder owning a substantial number of shares</font></i><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. Our Articles of Association do not contain
any such provision.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">In order to change the rights of shareholders, an amendment to the
relevant provisions of our Articles of Association is required. Any amendment
to our Articles of Association requires the approval of the holder of the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Series A </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Dwiwarna
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">s</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">hare and the other shareholders or their authorized proxies jointly
representing at least two thirds of the total number of votes cast in the
meeting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Any GMS may only be convened upon the issuance of the requisite notice
by us. In addition, the Board of Directors may issue such notice and convene an
EGMS based on a written request by the Board of Commissioners or one or more
shareholders holding at least 10% of our shares. The notice is to be published
in at least two newspapers in Indonesia (one each in Bahasa Indonesia and
English) having general circulation within Indonesia and on the website of our
Company and the IDX. Such announcement/notice of a GMS is required to be given
to shareholders at least 14 days (without counting the notice date and the
invitation date) prior to the invitation for the GMS. The invitation for the
GMS is also required to be published in the same manner as with the
announcement of the notice at least 14 days (without counting the invitation
date and the meeting date) prior to the GMS. The quorum for AGMS or EGMS
requires shareholders representing more than one-half of the total shares with
voting rights issued by us. In case the quorum is not reached, then invitation
to a</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> second meeting can be made without
prior announcement notice that</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> an
invitation to a meeting will be made. Such invitation to the meeting is
required to be served at least seven days prior to the second meeting (without
counting the invitation date and the meeting date). The second meeting will be
valid and may pass binding resolutions if attended by shareholders representing
at least one-third of the total shares with valid voting rights. In case the
quorum is not reached at the second meeting, a third meeting may be held, at
our Company&#8217;s request, with the quorum of attendance to be determined by the
Chairman of OJK in accordance with the provisions of the laws.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Stockholders may vote by proxy. All resolutions are to be passed by
consensus and deliberation. If consensus cannot be reached, resolutions are
passed by simple majority, unless a larger majority is required by our Articles
of Association. Our Articles of Association do not contain any limitations on
the right of any person, to own our shares or to exercise their right to vote.
Indonesian capital market regulations do not contain any limitation on the
right of any person, whether local or foreign, to own shares in a company
listed on the IDX.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Any takeover of our Company is required to be approved by the holder of
the Series A Dwiwarna Share and a majority constituting at least three-fourths
of the total number of shares at a GMS that must be attended by the holder of
the Series A Dwiwarna Share. There are no other provisions in our Articles of
Association that would have the effect of delaying, deferring or preventing a
change in control of our Company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Each Director and Commissioner has an obligation to report to the OJK
with regard to their ownership and any changes in their ownership of our
Company, and this obligation also applies to shareholders who have an ownership
stake of 5% or more in our paid up capital. We believe that our Articles of
Association are not significantly different from those generally prevailing in
Indonesia in respect of companies listed on the IDX (other than with respect to
provisions and rights relating to the Dwiwarna Share, which are common for SOEs
listed on the IDX). We also believe that the provisions in our Articles of
Association relating to changes in our capital are not more stringent than that
required by Indonesian law.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">C.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">MATERIAL CONTRACTS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">In 2015 and
2014, we did not enter into any new material contracts nor did we amend any
existing material contracts, other than contracts entered into or amended in
the ordinary course of business as disclosed at Note 36 of our Consolidated
Financial Statement.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">D. </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">EXCHANGE CONTROLS</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">See Item 3 &#8220;Key Information&#160; &#8211; Selected Financial Data -&#160; Exchange
Controls&#8221; included elsewhere in this Form 20-F.</font></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">E.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">TAXATION&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The following summary contains a description of the principal Indonesian and US federal tax consequences of the purchase,
ownership and disposition of ADSs or shares
of common stock. This summary does not purport to be a complete description of
all of the tax considerations that may be relevant to a decision to purchase,
own or dispose of ADSs or shares of common stock.</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Investors should consult their tax
advisors about the Indonesian and US </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">f</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ederal, state and local tax
consequences to them of the purchase, ownership and disposition of ADSs or
shares of common stock.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">a.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Indonesian Taxation </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The following is a
summary of the principal Indonesian tax consequences of the ownership and
disposition of common stock or ADSs to a non-resident individual or non-resident entity
that holds common stock or ADSs (a &#8220;Non-Indonesian Holder&#8221;). A &#8220;non-resident
individual&#8221; is a foreign national individual who does not
reside or intend to reside in Indonesia and is not
physically present in Indonesia for more
than 183 days within 12 month
period, during which period such non-resident individual receives income in respect of the ownership or disposition of
common stock or ADSs and a &#8220;non-resident entity&#8221; is a corporation or a non-corporate body that is established,
domiciled or organized under the laws of a
jurisdiction other than Indonesia and does not have a fixed place of business or otherwise
conducts business or carries out activities through a permanent establishment in
Indonesia during an Indonesian tax year in which such non-resident entity
receives income in respect of the ownership or disposition of common stock or ADSs. In
determining the residency of an individual or entity,
consideration will be given to the provisions of any applicable double taxation treaty to which Indonesia is a party.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">1.</font></i></b><b><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Dividends&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Dividends declared by us out of retained earnings and distributed to a Non-Indonesian Holder in respect of common stock or ADSs are subject to Indonesian
withholding tax, which, as of the date of this Annual Report is at the rate of 20%, on the amount of the
distribution (in the case of cash dividends) or on the shareholders&#8217; proportional share of the value of the
distribution. A lower rate provided under double taxation treaties may be applicable provided the recipient is able to
comply with the following strict requirements: (i) the recipient of the income is the beneficial owner of the
dividends, (ii) the recipient of the income
must have submitted a specific form set by the Indonesian Tax Office acting as a Certificate of Residency (the &#8220;Certificate of Residency&#8221;) that is filled in by the recipient of the income and validated by the
competent authority of the country where the
recipient </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">is&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> resident and (iii) the recipient of the income does not misuse
the tax treaty as set out in
the provision on the prevention of misuse </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">the tax treaty. Indonesia has concluded
double taxation treaties
with a number of countries, including Australia,
Belgium, Canada, France, Germany, Japan, Malaysia, the Netherlands, Singapore,
Sweden, Switzerland, the United Kingdom and the United States of America. Under the US-Indonesia double
taxation treaty, the withholding tax on dividends is
generally, in the absence of a 25% voting interest,
reduced to 15%.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">2.</font></i></b><b><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Capital Gains</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The sale or transfer of common
stock through the IDX is subject to a final withholding tax at the rate of 0.1%
of the value of the transaction. The broker executing the transaction is
obligated to withhold such tax. The holding of founder shares or the sale or
transfer of founder shares through </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">the&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> IDX may, under current Indonesian tax regulations, be
subject to additional income tax if the 0.5% final income tax has not been settled after the
initial public offering</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&#160;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Subject to the promulgation of
implementing regulations, the estimated net income received or accrued from the
sale of movable assets in Indonesia, which may include common stock not listed
on the an IDX or ADSs, by a Non-Indonesian holder (with the exception of the
sale of assets under Article 4 paragraph (2) of the Indonesian income tax law)
may be subject to Indonesian withholding tax at the rate of 20%. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">There is no specific tax
regulation on the sale of listed shares outside the IDX. If the transfer of
listed shares outside the IDX by a non-resident taxpayer is considered as the
transfer of unlisted shares by a non-resident taxpayer, then general tax
regulation will be applied, that is, withholding tax of 5% of the sales price (or subject
to double taxation treaty) will be applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In cases where a purchaser or
Indonesian broker will be required under Indonesian tax laws to withhold tax on
payment of the purchase price for common stock or ADSs through the IDX,
theoretically, that payment may be exempt from Indonesian withholding or other
Indonesian income tax under applicable double taxation treaties to which Indonesia
is a party (including the US-Indonesia double taxation treaty). However, except
for the sale or transfer of shares in a non-public company, the current
Indonesian tax regulations do not provide specific procedures for removing the
purchaser&#8217;s or Indonesian broker&#8217;s obligation to withhold tax from the proceeds
of such sale. To take advantage of the double taxation treaty relief,
Non-Indonesian Holders may have to seek a refund from the Indonesian Tax Office
through the IDX by making a specific application accompanied by a specific form
set by the Indonesian Tax Office acting as a Certificate of Residency that is
filled in by the recipient of the income and validated by the competent
authority of the country where the recipients are resident.</font></p>

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</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">3.</font></i></b><b><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Stamp Duty</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Stock transactions in Indonesia
are subject to stamp duty. Pursuant to Government Regulation No.24/2000, the
nominal amount of the Indonesian stamp duty is Rp6,000 for transactions having
a value greater than Rp1,000,000 and Rp3,000 for transactions having a value of
up to Rp1,000,000</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">b.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Considerations Regarding
Certain US Federal Income Tax</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The following is a summary of
certain US federal income tax considerations relating to the acquisition
ownership and disposition of ADSs or common stock by US Holders (as defined
below) that hold their ADSs or common stock as &#8220;capital assets&#8221; (generally,
property held for investment) under section 1221 of the US Internal Revenue
Code </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">of&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> 1986, as amended, (the &#8220;Code&#8221;)).
This summary is based upon the Code, its legislative history, final, temporary
and proposed US Treasury regulations promulgated thereunder, published rulings
and court decisions as </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">in </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">effect on the date hereof, all of which are subject to
change, or changes in interpretation, possibly with retroactive effect. In
addition, this discussion is based in part upon representations of the
depositary and the assumption that each obligation in the deposit agreement and
any related agreements will be performed according to its terms.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">This summary does not discuss
all aspects of US federal income taxation which may be important to particular
investors in light of their individual investment circumstances, including
investors subject to special tax rules (for example, financial institutions,
insurance companies, broker-dealers, partnerships and their partners, and
tax-exempt organizations (including private foundations)), holders who are not
US Holders, investors that will hold ADSs or common stock as part of a
straddle, hedge, conversion, constructive sale, or other integrated transaction
for US federal income tax purposes, or investors that have a functional
currency other than the US Dollar, all of whom may be subject to tax rules that
differ significantly from those summarized below. In addition, this summary
does not address US federal estate, gift or alternative minimum taxes, the US
federal unearned Medicare contribution tax, or state, local, or non-US tax
considerations. Each holder is urged to consult </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">its&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> tax advisor regarding the US
federal, state, local and non-US income, and other tax considerations of their
investment in the ADSs or common stock.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">For purposes of this summary, a
&#8220;US Holder&#8221; is a beneficial owner of ADSs or common stock that is, for US
federal income tax purposes, (i) an individual who is a citizen or resident of
the U</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">nited
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">S</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">tates</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, (ii) a corporation, created
in, or organized under the laws of, the U</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">nited </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">S</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">tates&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> or any state </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">thereof </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">or the District of Columbia, (iii) an estate the
income of which is includible in gross income for US federal income tax
purposes regardless of its source, or (iv) a trust (A) the administration of
which is subject to the primary supervision of a US court and which has one or
more US persons who have the authority to control all substantial decisions of
the trust or (B) that has </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">made a valid election</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> to be treated as a US person
under the Code.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">If a partnership (or other
entity treated as a &#8220;tax transparent&#8221; entity for US tax purposes) is the
beneficial owner of ADSs or common stock, the tax treatment of a partner in the
partnership (or interest holder in the &#8220;tax transparent&#8221; entity) will generally
depend upon the status of the partner (or interest holder) and the activities
of the partnership (or &#8220;tax transparent&#8221; entity). For US federal income tax
purposes, US Holders of ADSs will be treated as the beneficial owners of the
underlying </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">c</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ommon
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">tock represented by the ADSs.</font></p>

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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.2in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">1.</font></i></b><b><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Distributions on the
Common Shares or ADSs</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Subject to the discussion below under &#8220;Passive Fore</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">i</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">gn
Investment Company&#8221;, below,the gross amount of any distribution (without
reduction for any Indonesian tax withheld) we make on the common shares or ADSs
out of our current or accumulated earnings and profits (as determined for US
federal income tax purposes) will be includible in your gross income as
ordinary dividend income when the distribution is actually or constructively
received by you, or by the depositary in the case of ADSs. Distributions that
exceed our current and accumulated earnings and profits will be treated as a
return of capital to you to the extent of your basis in the ADSs or common
shares and thereafter as capital gain. We, however, </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">o not calculate
earnings and profits in accordance with US tax principles. Accordingly, all
distributions by us to US Holders will generally be treated as dividends. Any
dividend will not be eligible for the dividends-received deduction generally
allowed to US corporations in respect of dividends received from US corporations.
The amount of any distribution of property other than cash will be the fair
market value of such property on the date of such distribution. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Subject to certain exceptions for short-term and
hedged positions, the US dollar amount of dividends received by certain
non-corporate holders will be subject to taxation at a maximum rate of 20% if
the dividends are &#8220;qualified dividends&#8221;. Dividends paid on ADSs or common
shares will be treated as qualified dividends if either (i) we are eligible for
the benefits of a comprehensive income tax treaty with the United States that
the Internal Revenue Service, or IRS, has approved for the purposes of the
qualified dividend rules, or (ii) the dividends are with respect to ADSs
readily tradable on a U.S. securities market, provided, in each case, that we
were not, in the year prior to the year in which the dividend was paid, and are
not, in</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">the year in which the dividend is paid, a passive
foreign investment company, or PFIC. The Convention Between the Government of
the United States and the Government of the Republic of Indonesia for the
Avoidance of Double Taxation and the Prevention of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Fiscal&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> Evasion
with Respect to Taxes on Income (the &#8220;Treaty&#8221;) has been approved for the
purposes of the qualified dividend rules, and we expect to qualify for benefits
under the Treaty. We are considered a qualified foreign corporation with
respect to the ADSs because our ADSs are listed on the New York Stock Exchange.
Finally, based on our audited consolidated financial statements and relevant
market data, we believe that we did not satisfy the definition for PFIC status
for U.S. federal income tax purposes with respect to our 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
taxable year. In addition, based on our audited consolidated financial
statements and our current expectations regarding the value and nature of our
assets, the sources and nature of our income, and relevant market data, we do
not anticipate becoming a PFIC for our 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">6&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> taxable year
or any future year. However, our status in the current year and future years
will depend on our income and assets (which for this purpose depends in part on
the market value of the ADSs or common shares) in those years. See the
discussion below under &#8220;Passive Foreign Investment Company&#8221;.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Holders of ADSs or common shares should consult their
own tax advis</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">o</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">rs regarding the availability of the reduced dividend
tax rate in light of their own particular circumstances.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The amount of the dividend distribution that a US
holder must include in its income will be the US dollar value of the Rupiah
payments made, determined at the spot Rupiah/US dollar rate on the date of the
dividend distribution, regardless of whether the payment is in fact converted
into US dollars. Generally, any gain or loss resulting from currency
exchange fluctuations during the period from the date the US holder includes
the dividend payment in income to the date it converts the payment into US
dollars will be treated as ordinary income or loss from US sources. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Subject to various limitations, any Indonesian tax withheld
from distributions in accordance with the Treaty will be deductible or
creditable against your US federal income tax liability. Dividends paid by us
generally will constitute income from sources outside the United States for US
foreign tax credit limitation purposes and will be categorized as &#8220;passive
category income&#8221; or, in the case of certain US Holders, as &#8220;general category
income&#8221; for US foreign tax credit purposes. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In the event we are required to withhold Indonesian
income tax on dividends paid to US Holders on the ADSs or common shares (see
discussion under &#8220;Indonesian Taxation&#8221;), you may be able to claim a reduced 15%
rate of Indonesian withholding tax if you are eligible for benefits under the
Treaty. You should consult your own tax advisor about the eligibility for
reduction of Indonesian withholding tax.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">You may not be able to claim a foreign tax credit (and
instead may claim a deduction) for non-US taxes imposed on dividends paid on
the ADSs or common shares if you (i) have held the ADSs or common shares for
less than a specified minimum period during which you are not protected from
risk of loss with respect to such shares, or (ii) are obligated to make
payments related to the dividends (for example, pursuant to a short sale). The
rules relating to the US foreign tax credit are complex and US Holders may be
subject to various limitations on the amount of foreign tax credits that are
available. In addition, if the dividends are taxed as qualified dividend income
(as discussed above), the amount of the dividend taken into account for
purposes of calculating a US Holder's foreign tax credit limitation will
generally be limited to the gross amount of the taxable dividend, multiplied by
the reduced tax rate applicable to qualified dividend income and divided by the
highest tax rate normally applicable to dividends. US Holders should consult
their own tax advisors regarding the effect of these rules in their particular
circumstance.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">2.</font></i></b><b><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Sale or Other Disposition
of ADSs or Common Stock</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Subject to the
discussion below under &#8220;Passive Foreign Investment Company&#8221;, upon a sale,
exchange or other disposition of the ADSs or common shares, you will generally
recognize capital gain or loss for US federal income tax purposes in an amount
equal to the difference between the US dollar value of the amount realized and
your tax basis, determined in US dollars, in such ADSs or common shares.
Generally, gain or loss recognized upon the sale or other disposition of ADSs
or common shares will be capital gain or loss, will be long-term capital gain
or loss if the US Holder's holding period for such ADSs or common shares
exceeds one year, and will be income or loss from sources within the United
States for foreign tax credit limitation purposes. For non-corporate US
Holders, the United States income tax rate applicable to net long-term capital
gain currently will not exceed 20%. The deductibility of capital losses is
subject to significant limitations.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">A US Holder that
receives foreign currency from a sale or disposition of ADSs or common shares
generally will realize an amount equal to the US dollar value of the foreign
currency determined on (i) the date of receipt of payment in the case of a cash
basis US Holder and (ii) the date of disposition in the case of an accrual
basis US Holder. If ADSs or common shares are treated as traded on an
&#8220;established securities market&#8221;, a cash basis taxpayer or, if it so elects, an
accrual basis taxpayer, will determine the US dollar value of the amount
realized by translating the amount received at the spot rate of exchange on the
settlement date of the sale. A US Holder will have a tax basis in the foreign
currency received equal to the US dollar amount realized. Any currency exchange
gain or loss realized on a subsequent conversion of the foreign currency into
US dollars for a different amount generally will be treated as ordinary income
or loss from sources within the United States. However, if such foreign
currency is converted into US dollars on the date received by the US Holder, a
cash basis or electing accrual basis US Holder should not recognize any gain or
loss on such conversion. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Any gain or loss
will generally be US source gain or loss for foreign tax credit limitation
purposes and as a result of the U.S. foreign tax credit limitation, foreign
taxes, if any, imposed upon capital gains in respect of the ADSs or common
shares may not be currently creditable. US Holders
should consult their own tax advisors regarding the effect of these rules in
their particular circumtances.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">3.</font></i></b><b><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Passive Foreign
Investment Company</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">In general, a
foreign corporation is a PFIC for any taxable year in which, after applying
relevant look-through rules with respect to the income and assets of
subsidiaries:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbolmt lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8226;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">75% or more of its gross income
consists of passive income, such as dividends, interest, rents, royalties, and
gains from the sale of assets that give rise to such income; or</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbolmt lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8226;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">50% or more of the average
quarterly value of its gross assets consists of assets that produce, or are
held for the production of, passive income.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#8220;Passive income&#8221;
for this purpose includes, for example, dividends, interest, royalties, rents
and gains from commodities and securities transactions. Passive income does not
include rents and royalties derived from the active conduct of a trade or
business. If the stock of a non-U.S. corporation is publicly traded for the
taxable year, the asset test is applied using the fair market value of the
assets for purposes of measuring such corporation's assets. If we own at least
25% (by value) of the stock of another corporation, we will be treated, for
purposes of the PFIC tests, as owning our proportionate share of the other
corporation's assets and receiving our proportionate share of the other corporation's
income for purposes of the PFIC income and asset tests.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Based on the
current and anticipated composition of our assets and income and the current
expectations regarding the price of the ADSs and common shares, we believe that
we were not a PFIC for US federal income tax purposes with respect to our 2015
taxable year and we do not intend to become or anticipate becoming a PFIC for
any future taxable year. However, the determination of PFIC status is a factual
determination that must be made annually at the close of each taxable year, and
therefore, there can be no certainty as to our status in this regard until the
close of the 2016 taxable year. Changes in the nature of our income or assets
or a decrease in the trading price of the ADSs or common shares may cause us to
be considered a PFIC in the current or any subsequent year.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">If we were a PFIC
in any taxable year that you held the ADSs or common shares, you generally
would be subject to special rules with respect to &#8220;excess distributions&#8221; made
by us on the ADSs or common shares and with respect to gain from your
disposition of the ADSs or common shares. An &#8220;excess distribution&#8221; generally is
defined as the excess of the distributions you receive with respect to the ADSs
or common shares in any taxable year over 125% of the average annual
distributions you have received from us during the shorter of the three
preceding years, or your holding period for the ADSs or common shares.
Generally, you would be required to allocate any excess distribution or gain
from the disposition of the ADSs or common shares ratably over your holding
period for the ADSs or common shares. The portion of the excess distribution or
gain allocated to a prior taxable year, other than a year prior to the first
year in which we became a PFIC, would be taxed at the highest US federal income
tax rate on ordinary income in effect for such taxable year, and you would be
subject to an interest charge on the resulting tax liability, determined as if
the tax liability had been due with respect to such particular taxable year.
The portion of the excess distribution or gain that is not allocated to prior
taxable years, together with the portion allocated to the years prior to the
first year in which we became a PFIC, would be included in your gross income
for the taxable years of the excess distribution or disposition and taxed as
ordinary income. If we were a PFIC in any year during a US Holder's holding
period, we would generally be treated as a PFIC for each subsequent year absent
a &#8220;purging&#8221; election by the US Holder.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">These adverse tax
consequences may be avoided if the US Holder is eligible to and does elect to
annually mark-to-market the ADSs or common shares. If a US Holder makes a
mark-to-market election, such holder will generally include as ordinary income
the excess, if any, of the fair market value of the ADSs or common shares at
the end of each taxable year over their adjusted basis, and will be permitted
an ordinary loss in respect of the excess, if any, of the adjusted basis of the
ADSs or common shares over their fair market value at the end of the taxable
year (but only to the extent of the net amount of income previously included as
a result of the mark-to-market election). Any gain recognized on the sale or
other disposition of the ADSs or common shares will be treated as ordinary
income during any year in which we are a PFIC. The mark-to-market election is
available only for &#8220;marketable stock&#8221;, which is stock that is traded in other
than de minimis quantities on at least 15 days during each calendar quarter on
a qualified exchange or other market, as defined in the applicable Treasury
regulations. The ADSs should qualify as &#8220;marketable stock&#8221; because the ADSs are
listed on the New York Stock Exchange. However, the stock of any of our
subsidiaries that were PFICs would not be eligible for the mark-to-market
election.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">A US Holder's
adjusted tax basis in the ADSs or common shares will be increased by the amount
of any income inclusion and decreased by the amount of any deductions under the
mark-to-market rules. If a US Holder makes a mark-to-market election it will be
effective for the taxable year for which the election is made and all
subsequent taxable years unless the ADSs or common shares are no longer
regularly traded on a qualified exchange or the IRS consents to the revocation
of the election. US Holders are urged to consult their tax advisors about the
availability of the mark-to-market election, and whether making the election
would be advisable in their particular circumstances.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Alternatively, a
timely election to treat us as a qualified electing fund could be made to avoid
the foregoing rules with respect to excess distributions and dispositions. You
should be aware, however, that if we become a PFIC, we do not intend to satisfy
record keeping requirements that would permit you to make a qualified electing
fund election.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">If we were regarded
as a PFIC, a US Holder of ADSs or common shares generally would be required to
file an information return on IRS Form 8621 for any year in which the holder
received a direct or indirect distribution with respect to the ADSs or common
shares, recognized gain on a direct or indirect disposition of the ADSs or
common shares, or made an election with respect to the ADSs or common shares,
reporting distributions received and gains realized with respect to the ADSs or
common shares. In addition, if we were regarded as a PFIC, a US Holder would be
required to file an annual information return (also on IRS Form 8621) relating
to the holder's ownership of the ADSs or common shares. This requirement would
be in addition to other reporting requirements applicable to ownership in a
PFIC.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We encourage you to
consult your own tax advisor concerning the U.S. federal income tax
consequences of holding the ADSs or common shares that would arise if we were
considered a PFIC.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">4.</font></i></b><b><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Backup Withholding
Tax and Information Reporting Requirements</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">US backup withholding tax and
information reporting requirements generally apply to certain payments</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> made</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> to certain non corporate
holders of stock. Information reporting generally will apply to payments of
dividends on and to proceeds from the sale or redemption of, ordinary shares
made within the U</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">nited </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">S</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">tates&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> or by a US pay</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">or&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> or US middleman to a holder of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">ADSs or common stock</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> (other than an &#8220;exempt
recipient,&#8221; including a corporation, a payee that is not a US person that
provides an appropriate certification and certain other persons). </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A payor will be required to
withhold backup withholding tax from any payments of dividends on, or the
proceeds from the sale or redemption of, ADSs or common stock within the US or
by a US payor or US middleman to a holder, other than an exempt recipient, if
such holder fails to furnish its correct taxpayer identification number or
otherwise fails to comply with, or establish an exemption from, such backup
withholding tax requirements. The backup withholding tax is not an additional
tax and may be credited against a US </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">H</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">older&#8217;s regular US federal income tax liability or, if
in excess of such liability, refunded by the IRS if a timely refund claim is
filed with the IRS. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">5.</font></i></b><b><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></i></b><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Information with
Respect to Foreign Financial Assets</font></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Certain US Holders
may be required to report information with respect to such holder's interest in
&#8220;specified foreign financial assets&#8221; (as defined in Section 6038D of the Code),
including stock of a non-US corporation that is not held in an account
maintained by certain financial institutions, if the aggregate value of all
such assets exceeds certain dollar thresholds. Persons who are required to
report specified foreign financial assets and fail to do so may be subject to
substantial penalties. US Holders are urged to consult their own tax advisors
regarding the foreign financial asset reporting obligations and their possible
application to the holding of the ADSs or common shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">F.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">DIVIDENDS AND PAYING AGENTS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Not applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">G.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">STATEMENT BY EXPERTS</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Not applicable.</font></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">H.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">DOCUMENTS ON DISPLAY</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Any material
which is filed as an exhibit to this Annual Report on Form 20-F with the US
Securities and Exchange Commission is available for inspection at our offices.
See Item 4 &#8220;Information on the Company &#8211; History and Development of the Company
&#8211; Telkom Indonesia Profile&#8221;.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">I.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">SUBSIDIARY
INFORMATION</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Not applicable.</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ITEM 11. <a name=QQD></a>QUANTITATIVE
AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">We are exposed to market risks that arise from changes in foreign
exchange rates and interest rates risk, each of which will have an impact on
us. We do not generally hedge our long-term liabilities in foreign currencies
but hedge our obligations for the current year. As of December 31, 2015, assets
in foreign currencies reached 123.7% against our liabilities denominated in
foreign currencies. Our exposure to interest rate risk is managed through a mix
of fixed and variable rate liabilities and assets, including short-term fixed
rate assets. Our exposure to such market risks fluctuated during 2013, 2014 and
2015 as the Indonesian economy was affected by changes in the US Dollar to
Rupiah exchange rate and interest rates themselves. We are not able to predict
whether such conditions will continue during 2016 or thereafter.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Foreign </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Exchange
Rate Risk</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">We
are exposed to foreign exchange risk on sales, purchases and borrowings that
are denominated in foreign currencies, primarily in US </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">D</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ollar and
Japanese Yen. Our exposures to other foreign exchange rates are not material.
Increasing risks of foreign currency exchange rates on our obligations are
expected to be offset by time deposits and receivables in foreign currencies
that are equal to at least 25% of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">our&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> outstanding current liabilities.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
information presented in the following table is based on assumptions of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">buying and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">selling
rates in US Dollar as well as other currencies, which were quoted by Reuters on
December 31, 2015 and applied respectively to monetary assets and liabilities.
The</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> bid and offer </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">rates as of December 31, 2015 were Rp13,780 </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">and&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> Rp13,790 to US$1</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.00</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">, respectively. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">However,
we believe these assumptions and the information described in the following
table may be influenced by a number of factors, including a fluctuation and/or
depreciation of the Rupiah in the future.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border:none;border-collapse:collapse;width:100.08%;">
 <tr style="height:1.0pt;">
  <td rowspan=3 valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=3 valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Outstanding Balance as of December 31, 2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=11 valign=bottom width=46% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Expected Maturity Date</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td rowspan=2 width=8% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Fair Value</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td rowspan=2 valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Foreign Currency (million)</font></b></p>
  </td>
 <td rowspan=2 valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td rowspan=2 valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Rp Equivalent</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">(Rp </font></b><b><font face="Times New Roman" lang=IN style="font-size:8.0pt;">b</font></b><b><font face="Times New Roman" style="font-size:8.0pt;">illion)&nbsp;</font></b></p>
  </td>
 <td rowspan=2 valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">2016</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">2017</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">2018</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">2019</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">2020</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">There after</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=11 valign=bottom width=46% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">(Rp </font></b><b><font face="Times New Roman" lang=IN style="font-size:8.0pt;">b</font></b><b><font face="Times New Roman" style="font-size:8.0pt;">illion)&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">ASSETS</font></b></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Cash and Cash Equivalents</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">49</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">5&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">6,813</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">6,813</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">6,813</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Japanese
  Yen</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">11</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Other<sup>(1)</sup></font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">10</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">143</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">143</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">143</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:8.0pt;">Other Current Financial Assets</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">30</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">419</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">419</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">419</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Other<sup>
  </sup></font><sup><font face="Times New Roman" lang=IN style="font-size:8.0pt;">(1)</font></sup></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">14</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">14</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">14</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Trade Receivables</font></b></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Related Parties</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">24</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">24</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">24</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Third Parties</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">104</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1,435</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1,435</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1,435</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Other<sup>(1)</sup></font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">17</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">17</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">17</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Other Receivables</font></b></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Other<sup>(1)</sup></font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:8.0pt;">Advances and Other Non-current Assets</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">54</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">54</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">54</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">LIABILITIES</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Trade Payables</font></b></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Related Parties</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Third Parties</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">202</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2,785</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2,785</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2,785</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Japanese
  Yen</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">11</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Other<sup>(1)</sup></font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">3</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">3</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">3</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_118"></a><a name="_bclPageBorder118"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader118"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border:none;border-collapse:collapse;width:100.08%;">
 <tr style="height:1.0pt;">
  <td rowspan=3 valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=3 valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Outstanding Balance as of December 31, 2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=11 valign=bottom width=46% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Expected Maturity Date</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td rowspan=2 width=8% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Fair Value</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td rowspan=2 valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Foreign Currency (million)</font></b></p>
  </td>
 <td rowspan=2 valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td rowspan=2 valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Rp Equivalent</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">(Rp </font></b><b><font face="Times New Roman" lang=IN style="font-size:8.0pt;">b</font></b><b><font face="Times New Roman" style="font-size:8.0pt;">illion)&nbsp;</font></b></p>
  </td>
 <td rowspan=2 valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">2016</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">2017</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">2018</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">2019</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">2020</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">There after</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=11 valign=bottom width=46% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">(Rp </font></b><b><font face="Times New Roman" lang=IN style="font-size:8.0pt;">b</font></b><b><font face="Times New Roman" style="font-size:8.0pt;">illion)&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Other Payables</font></b></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">22</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">307</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">307</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">307</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Other<sup>(1)</sup></font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">23</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">23</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">23</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Accrued Expenses</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">34</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">475</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">475</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">475</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Japanese
  Yen</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">25</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Other<sup>(1)</sup></font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:8.0pt;">Advances from Customer and Suppliers</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:8.0pt;">Current Maturities of Long-Term Liabilities</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">12</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">166</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">166</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">83&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Japanese
  Yen</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">768</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">88</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">88</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">110</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Promissory Notes</font></b></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">28</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">26</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">27</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Long-term liabilities</font></b><sup><font face="Times New Roman" style="font-size:8.0pt;">(2)</font></sup></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">187</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2,586</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">151</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">2,212</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">104</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">61</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">58</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2,55</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=24% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Japanese
  Yen</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">6,143</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">704</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">88</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">88</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">88</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">88</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">352</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">717</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:justify;text-indent:-.15in;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(1) Asset and liabilities denominated in
other foreign currencies are presented as U.S Dollar equivalents using the
Reuters bid and offer rates prevailing at end of the reporting period</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:justify;text-indent:-.15in;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(2) Long term liabilities for the purpose
of this table consist of loans denominated in foreign currencies from two step
loans, </font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">bonds, </font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">obligation under finance leases and long term bank
loans</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Interest
Rate Risk</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Our
exposure to interest rate fluctuations results primarily from changes to the
floating rate applied for long-term debt. This risk relates to loans under the
Government on-lending program that has been used to finance our capital
expenditures. </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Interest rate
fluctuation is monitored to minimize any negative impact to financial position.
Borrowings at variable interest rates expose </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">our&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> Company and our
subsidiaries to interest rate risk. To measure market risk fluctuations in
interest rates, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">our&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> Company </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">and our
subsidiaries </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">primarily use
interest </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">margin&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> and maturity profile of the financial assets and
liabilities based on changing schedule of the interest rate.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
actual cash flows from our debt are denominated in Rupiah, US Dollar, and
Japanese Yen, as appropriate and as indicated in the table. The information
presented in the table has been determined based on the following assumptions:
(i) fixed interest rates on Rupiah time deposits are based on average interest
rates offered for three month</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> placements in effect as of December 31, 2015 by the
banks where such deposits were located; (ii) variable interest rates on Rupiah
denominated long-term liabilities are calculated as of December 31, 2015 and are
based on contractual terms setting interest rates based on average rates for
the preceding six months on three month</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> certificates issued by Bank of
Indonesia or based on the average three month</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> deposit rate
offered by the lenders; (iii) fixed interest rates on US Dollar deposits are
based on average interest rates offered for three month</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> placements by
the various lending institutions where such deposits are located as of December
31, 2015 and (iv) the value of marketable securities is based on the value of
such securities on December 31, 2015. However, these assumptions may change in the future.
These assumptions are different from the rates used in our Consolidated
Financial Statements; accordingly, amounts shown in the table may differ from
the amounts shown in our Consolidated Financial Statements.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_119"></a><a name="_bclPageBorder119"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=bottom width=29% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Outstanding Balance as of December 31, 2015</font></b></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td colspan=11 valign=bottom width=42% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Expected Maturity Date</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td rowspan=2 width=6% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:8.0pt;">Fair Value</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td rowspan=2 valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td rowspan=2 valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Original Currency (million)</font></b></p>
  </td>
 <td rowspan=2 valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td rowspan=2 valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Rp Equivalent (Rp billion)</font></b></p>
  </td>
 <td rowspan=2 valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td rowspan=2 valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">Rate (%)</font></b></p>
  </td>
 <td rowspan=2 valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">2016</font></b></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">2017</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">2018</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">2019</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">2020</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">There after</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td colspan=11 valign=bottom width=42% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">(Rp billion)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">ASSETS</font></b></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Fixed Rate</font></b></p>
  </td>
 <td valign=bottom width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:8.0pt;">Cash and Cash Equivalent</font></b></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Time Deposit</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Rupiah</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">19,553,898</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">19,554</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">3.75%-10.50%</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">19,554</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">19,554</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">342</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">4,698</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">0.10% - 3.00%</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">4,698</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">4,698</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:8.0pt;">Other Current Financial Assets</font></b></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Time Deposit</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">21</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">289</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">0.85% - 0.88%</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">289</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">289</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:8.0pt;">Available-for-sale Financial Assets</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Rupiah</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">7</font><font face="Times New Roman" style="font-size:8.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">102&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">17</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">10.40%</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">1</font><font face="Times New Roman" style="font-size:8.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">1</font><font face="Times New Roman" style="font-size:8.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">6</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">88</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">6.88% - 7.25%</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">88</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">88</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">LIABILITIES</font></b></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
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 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
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 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
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 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
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 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
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 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
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 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
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 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face="Times New Roman" style="font-size:8.0pt;">Short-term Bank Loans</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
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 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
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 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
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 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
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 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
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 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
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 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
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<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Variable Rate</font></b></p>
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 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
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 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Rupiah</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
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 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Principal</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">436,523</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">436</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">436</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">436</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Interest</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Fixed Rate</font></b></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Rupiah</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Principal</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">165,849</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">166</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">166</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">166</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Interest</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Long Term Liabilities</font></b></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Variable Rate</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Rupiah</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Principal</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">15,278,703</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">15,279</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2,788</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2,927</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">5,72</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1,53</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">8&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1,430</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">872</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">15,225</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Interest</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">4,073,085</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">4,0</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">67&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">8.54%-13</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">.00</font><font face="Times New Roman" style="font-size:8.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1,51</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1,</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">196&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">766</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">3</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">39&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">173</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">7</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Principal</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">160</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2,210</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">58</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">3</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2,100</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">8&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2,193</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Interest</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">6</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">8</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1.52%-2.32%</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">3</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">3</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Fixed Rate</font></b></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Rupiah</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Principal</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">10,612,142</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">10,612</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">15</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">8&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">120</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">12</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">0&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">335</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2,316</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">7,563</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">10,606</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Interest</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">12,031,057</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">12,03</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">2&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">5.18%-11</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">.00</font><font face="Times New Roman" style="font-size:8.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1,08</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">8&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1,072</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1,06</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">2&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1,0</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">49&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">955</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">6,806</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Principal</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">40</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">537</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">09&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">11</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">111</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">87</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">61</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">58</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">542</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Interest</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">4</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">5</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2.18%-4.00%</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">18</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">14</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">11</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Japanese
  Yen</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Principal</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">6,911</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">792</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">88</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">88</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">88</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">88</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">88</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">352</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">827</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Interest</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1,018</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">117</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">3.10%</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">24</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">21</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">8&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">13</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">25</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:8.0pt;">Finance lease</font></b></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Rupiah</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Principal</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">4,547,740</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">4,548</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">61</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">660</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">62</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">9&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">596</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">614</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1,433</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">4,548</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Interest</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1,485,381</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1,485</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">2.75%-15.00%</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">383</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">323</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">259</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">204</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">152</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">164</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">US
  Dollar</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Principal</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">32</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">2</font><font face="Times New Roman" lang=IN style="font-size:8.0pt;">5&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">7</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">32</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face="Times New Roman" style="font-size:8.0pt;">Interest</font></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">4</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">4.00% - 5.80%</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">3</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(1) Long-term liabilities
consist of loans which are subject to interest; namely two</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">-</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">step loans, bonds
and notes and long-term bank loans, which in each case include their maturities</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_120"></a><a name="_bclPageBorder120"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader120"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ITEM 12. <a name=DSOES></a>DESCRIPTION
OF SECURITIES OTHER THAN EQUITY SECURITIES</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">American
Depositary Shares</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">Bank of New York Mellon Corporation&#160; (previously
&#8220;The Bank of New York&#8221;) serves as the &#8220;Depositary&#8221; for our ADSs which are
traded on the NYSE. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">Investors pay a depositary fee directly or through
a broker acting on their behalf for the delivery or surrender of ADSs for the
purpose of withdrawal. The Depositary also collects fees for making distributions
to investors by deducting the fee from the amount distributed or by selling a
portion of the distributable property to pay the fee. The Depositary may
collect its annual fee for depositary services by making a deduction from the
cash distributions or by directly billing investors or by charging the
book-entry system accounts of the parties acting on their behalf. The
Depositary may refuse to provide fee-generating services until its bills for
such services are paid.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">Costs Related to ADS Issue and
Handling </font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=top width=49% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Shareholders depositing or withdrawing ordinary shares
  or ADS must pay:</font></b></p>
  </td>
 <td valign=top width=2% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=49% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">For:</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=49% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">US$5 (or less) per 100 ADS (or part of 100 ADS).</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=49% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Issuance of ADS, including issuance resulting from a distribution of
  shares or rights or other property. Cancellation of ADS for the purpose of
  withdrawal, including in case of termination of the deposit agreement.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=49% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">US$0.02 (or less) per ADS.</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=49% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Any cash payment to registered ADS shareholders.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=49% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Up to US$0.05 per ADS.</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=49% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Receiving or distributing dividend.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=49% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">A fee equivalent to the fee payable if the securities distributed to
  shareholders had been shares and those shares had been deposited for the
  issuance of ADS.</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=49% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Delivery of securities by the Depositary to registered ADS
  shareholders.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=49% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">US$0.02 (or less) per ADS per calendar year.</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=49% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Depositary services.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=49% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Registration or transfer fees.</font><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;"> &nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=49% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Transfer or registration of shares on the share register to or from
  the name of the Depositary or its agent when shareholders deposit or withdraw
  ordinary shares.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=49% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Depositary Fees.</font><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;"> &nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=49% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Telegram, telex and fax transmissions (if provided for in the deposit
  agreement). Converting foreign currency to US Dollar.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=49% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Taxes and other duties levied by the government, the Depositary or the
  custodian upon payment of the ADS or other shares underlying the ADS, such as
  share transfer tax, stamp duty or income tax.</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=49% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">As necessary.</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=49% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">Any costs incurred by the Depositary or its agent for servicing the
  securities deposited.</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=49% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">As necessary.</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">The Depositary has agreed to reimburse us up to
US$400,000</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;"> which amount can be carried over for
a period of one year for certain expenses we incur in relation to the
administration and maintenance of the ADS facility, including, but not limited
to, direct or indirect investor relations expenses and other ADS
program-related expenses. In addition, the Depositary has also agreed to
reimburse us an additional amount of up to US$400,000 every fifth year from the
date of the establishment of the ADS facility.The reimbursement will be
evaluated and adjusted if the number of ADSs outstanding falls below a
stipulated minimum or if they are delisted from the NYSE.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:115%;">The table below sets forth the types
of expenses and the invoices that the Depositary has reimbursed in 2015: </font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td valign=bottom width=75% style="padding:0in 0in 0in 0in;">&nbsp;</td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=75% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Type
  of Fees</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">(US$)</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=75% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Listing fees for
  2013 and 2014 </font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">213,089.86</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=75% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Training expenses</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">193,586.51</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=75% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">AGM-related
  expenses for 2013 and 2014</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">77,151.45</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=75% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Subscription fees
  for investment relations services for 2013 and 2014</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">70,293.42</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=75% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Expenses related
  to the preparation of our annual report</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">67,739.37</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=75% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Fees and expenses
  related to the administration of the ADS facility</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">16</font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">,9</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">35</font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">.</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">28&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=75% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Total</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">638,795.89</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The Depositary did not waive,
or pay directly to third parties on our behalf, any expenses relating to the
year ended December 31, 2015.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">PART
II</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ITEM 13. <a name=DDAD></a>DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">There are no
defaults, dividend arrearages and delinquencies to which this Item applies.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ITEM 14. <a name=MMRS></a>MATERIAL MODIFICATIONS TO THE
RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">None.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ITEM 15. <a name=CP></a>CONTROLS AND PROCEDURES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Disclosure Controls </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">nd
Procedures</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Management conducted an evaluation on the
effectiveness of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">our </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Company's disclosure controls and procedures u</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">nder the supervision and with the
participation of</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> management, including
the President
Director, which is of the same level as </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Chief Executive Officer </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(&#8220;CEO&#8221;) </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Director&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> of Finance</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,
which is the same level as </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Chief
Financial Officer</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> (&#8220;CFO&#8221;)</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> (as such term is defined in Rules 13a-15(e)
and 15d-15(e) under the Securities Exchange Act</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">). &#160;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Based on this
evaluation, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">the&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> C</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">EO&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> and C</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">FO&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> have concluded that, as of December 31, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">5, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">our C</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">ompany&#8217;s
disclosure controls and procedures were effective. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">D</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">isclosure
controls and procedures </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">conducted by
management </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">include controls and
procedures </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">that&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> are designed to ensure that information required to
be disclosed in reports filed or submitted under the Exchange Act is recorded,
processed, summarized and reported within the time periods specified in the
SEC&#8217;s rules and forms, and that such information is accumulated and
communicated to our management, including the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">CEO and CFO</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, as
appropriate, to allow timely decisions regarding required disclosure.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">b.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Management&#8217;s Report
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">o</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">n Internal Control over Financial Reporting</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Our Company's management is responsible for </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">establishing&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> and maintaining adequate internal control over financial reporting, as
such term is defined in Exchange Act Rules 13a-15(f) and 15d-15(f). </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">
internal control over financial reporting is a process designed by, or under
the supervision of, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">the CEO</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> and C</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">FO</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, and e</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">x</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">ec</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">u</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">ted by </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">the B</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">oard of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">D</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">irectors, management and other personnel, to
provide reasonable assurance regarding the reliability of financial reporting
and the preparation of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">C</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">onsolidated </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">F</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">inancial </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">S</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">tatements
for external purposes in accordance with IFRS as issued by the IASB</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> and
includes those policies and procedures that (1) pertain to the maintenance of
records that, in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of our Company</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> (2)
provide reasonable assurance that transactions are recorded as necessary to
permit preparation of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Consolidated F</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">inancial </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">S</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">tatements in accordance with IFRS as issued by
the IASB</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> and that receipt</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">s&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> and expenditures of our Company are being
made only in accordance with authorizations of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">our Company&#8217;s </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">management
and </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Board of D</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">irectors</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">,&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized acquisition, use or
disposition of our Company&#8217;s assets that could have a material effect on the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">C</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">onsolidated
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">F</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">inancial </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">S</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">tatements.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Because of its inherent limitation</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">s</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">,
internal control over financial reporting may not prevent or detect </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">all </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">misstatements.
Also, projections of any evaluation of effectiveness to future periods are
subject to the risk that control</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">s&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> may become inadequate because of changes in
conditions, or that the degree of compliance with the policies or procedures
may deteriorate</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Management ha</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">s&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> assessed the effectiveness of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">our&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">
Company&#8217;s internal control over financial reporting as of December 31, 201</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">5</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. In
making this assessment&#160; management used the criteria set forth in Internal
Control &#8211; Integrated Framework issued by the Committee of Sponsoring </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">O</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">rganizations
of the Treadway </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Commission </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">(&#8220;COSO&#8221;) </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(2013 framework)</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. Based on this assessment, management
concluded that as of December 31, 2015, our internal control over financial
reporting was effective.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">c.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Attestation Report </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">of&nbsp;</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">
the Registered Public Accounting Firm</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">The effectiveness of our internal control over
financial reporting as of December 31, 2015 has been audited by </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">KAP Purwantono, Su</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">ngkoro &amp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Surja</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, an independent registered public accounting
firm, as stated in their report which is included in the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Consolidated Financial Statements</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">d.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Changes in Internal
Control over Financial Reporting</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">There have been no significant changes in our
Company&#8217;s internal control over financial reporting during the most recently
completed fiscal year that would materially affect or are reasonably likely to
materially affect, our Company&#8217;s internal control over financial reporting.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;">We are</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;font-weight:normal;"> committed to continual improvements in internal control
processes, and will continue to review and monitor the control over financial
reporting and its procedures in order to ensure compliance with the
requirements of the Sarbanes-Oxley Act and related regulations as stipulated by
COSO. </font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;">We&nbsp;</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;font-weight:normal;">
will also continue to assign significant company resources from time to time to
improve our internal control over financial reporting.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ITEM 16A. <a name=ACFE></a>AUDIT COMMITTEE FINANCIAL
EXPERT</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">The </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Board of Commissioners has </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">determined that Mr.</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Tjatur Purwadi, the secretary of the Audit Committee,
qualifies as a</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">n Audit Committee </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Financial&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">
Expert in accordance with the requirements of </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Item 16A of Form 20-F and as an
&quot;independent&quot; member in accordance with the provisions of Rule 10A-3
under the Exchange Act. </font><font color=black face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;">Mr. Purwadi
has been a member of our Audit Committee since March 2014. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Mr. Purwadi previously served as
Director of Assurance at KAP Tanudiredja, Wibisana, Rintis &amp; Partners (</font><font color=black face="Times New Roman" lang=EN-US style="background:white;font-size:10.0pt;">a member firm of the PwC global network)
since in 2012. Prior to that, he served at our Company since 1979 where he rose
to become </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Vice-President of Financial and Logistics Policy and Head of
Internal Audit</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;page-break-after:avoid;text-align:justify;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ITEM
16B. <a name=COE></a>CODE OF ETHICS</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:.15pt;line-height:normal;">In compliance with the
Sarbanes-Oxley Act of 2002 Section 406, our code of ethics applies equally to
our Commissioners, our President Director and our Director of Finance
(positions equivalent to Chief Executive Officer and Chief Financial Officer,
respectively), Directors and other key officers as well as all of our
employees. You may view our code of ethics on our website at
http://www.telkom.co.id/about-telkom/business-ethics. Amendments to or waivers
from the code of ethics will be posted on our website as well. Information
contained on that website is not a part of this annual report on Form 20-F.
Copies of our code of ethics may also be obtained at no charge by writing to
our investor relations department at Graha Merah Putih, Jl. Gatot Subroto No.
52, 5th Floor, Jakarta 12710, Indonesia</font><font face="Times New Roman" lang=IN style="font-size:11.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;line-height:normal;">ITEM 16C. <a name=PAFS></a>PRINCIPAL ACCOUNTANT FEES AND SERVICES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">In line with existing procedures and
taking into consideration the independence and qualifications of independent
auditors, </font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">at </font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">our
AGMS on </font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">April 17</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">, 201</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">5,
we</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;"> appointed KAP Purwantono, Su</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">ngkoro&nbsp;</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">
&amp; Surja (formerly Purwantono, Suherman &amp; Surja)</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;"> (a member firm of Ernst &amp; Young Global Limited), </font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">a registered KAP with OJK, to perform the audit on our
Consolidated Financial Statements for the fiscal year ended December 3</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">1, 2015</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;"> and
on the effectiveness of internal control over financial reporting as of
December 31</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">, </font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">201</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">5</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">.
The fee for the audit for fiscal year 201</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">5&nbsp;</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;"> was agreed at Rp3</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">9.9
</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">billion (excluding VAT). </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">KAP Purwantono, Sungkoro &amp; Surja has been
our public accountant since 2012.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">KAP Purwantono, Sungkoro &amp; Surja is
also assigned to perform an audit of funds utilization of the Partnership and
Community Development Program (&#8220;PKBL&#8221;) for fiscal year 2015.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Fees
and Services of the External Auditor</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:0in;"><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.25pt;line-height:normal;">The following table summarizes the
fees for audit service in 2013</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;letter-spacing:.25pt;line-height:normal;">,&nbsp;</font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.25pt;line-height:normal;">
2014</font><font color=windowtext face="times new roman" lang=IN style="font-size:10.0pt;letter-spacing:.25pt;line-height:normal;"> and </font><font color=windowtext face="times new roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.25pt;line-height:normal;">2015:&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=51% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=bottom width=49% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">For Years Ended on De</font></b><b><font face="Times New Roman" lang=IN style="font-size:9.0pt;">c</font></b><b><font face="Times New Roman" style="font-size:9.0pt;">ember
  31,</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=51% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=51% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp million)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp million)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">(Rp million)</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=51% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Audit Fees</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">28,601</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">34,459</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">3</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">9</font><font face="Times New Roman" style="font-size:9.0pt;">,</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;">943&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=51% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">All Other Fees</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">340</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">370</font></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">400</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Audit
Committee Pre-Approval Policies and Procedures</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;line-height:normal;">We
have adopted pre-approval policies and procedures under which all non-audit
services provided by our independent registered public accounting firm must be
pre-approved by our Audit Committee, as set forth in the Audit Committee
Charter. Pursuant to the charter, permissible non-audit services may be
performed by our independent registered public accounting firm provided that</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.2pt;line-height:normal;">:&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;line-height:normal;"> (</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.2pt;line-height:normal;">i</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;line-height:normal;">) our Board of Directors must deliver to the Audit
Committee (through the Board of Commissioners) a detailed description of the
non-audit service that is to be performed by the independent public accounting
firm</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.2pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;line-height:normal;"> and (</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.2pt;line-height:normal;">ii</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;line-height:normal;">) the Audit Committee will determine whether the
proposed non-audit service will affect the independence of our independent
public accounting firm or would give rise to any conflict of interest.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;line-height:normal;">Pursuant
to Section 10(i)(1)(B) of the Exchange Act and paragraph (c)(7)(i)(C) of Rule
2-01 of Regulation S-X issued there under, our Audit Committee Charter waives
the pre-approval requirement for permissible non-audit services where: (i) the
aggregate amount of the fees for such non-audit services constitutes no more
than five percent of the total amount of fees paid by us to our independent
registered public accounting firm during the year in which the services are
provided</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;letter-spacing:-.2pt;line-height:normal;">,&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;line-height:normal;"> or (ii) the proposed services
are not regarded as non-audit services at the time the contract to perform the
engagement is signed. In addition to these two requirements, the performance of
non-audit services must be approved prior to the completion of the audit by a
member of the Audit Committee who has been delegated pre-approval authority by
the full Audit Committee or by the full Audit Committee itself</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ITEM
16D. <a name=ELAC></a>EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The NYSE
listing standards require that a US listed company must have an audit committe</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">, a
nominating/corporate governance committee and a compensation committee. Each of
these committees must consist solely of independent directors and must have a
written charter that addresses certain matters specified in the listing
standards.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The
Indonesian Company Law does not require Indonesian public companies to form any
of the committees described in the NYSE listing standards. However, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">OJK Audit Committee Regulation </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">and IDX Regulation No.1-A require the Board of
Commissioners of a public company which is listed on the IDX (such as our
Company) to establish an audit committee </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">which
is chaired by an independent commissioner. In addition, the OJK Audit Committee
Regulation requires each member of such audit committee to be either an
independent commissioner or external independent member, with the audit
committee comprised of at least three members with at least one independent
commissioner and one external independent member and at least one member of the
audit committee having expertise in accounting or finance.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">The </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">NYSE </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">l</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">isting </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">tandards </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">as
required by </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Rule 10A-3</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> (c) (3)</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
of the Exchange Act require foreign private issuer</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> whose shares
are listed on the NYSE to have an audit committee comprised of independent
directors. However,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> such foreign
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">private issuers may be exempt</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ed&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> from
the independence requirement if (i)</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
the home country</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> government or stock exchange
requires the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">company to have an
audit committee</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">; (ii)</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> the audit committee is separate from&#160; the
board of directors</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">includes non-board </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">members&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">
as in our case, members</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> from the Board of
Commissioners; (iii) </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">the a</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">udit </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">c</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ommittee members are not </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">elected by&#160;
management and no executive officer</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> of the company is a member of the audit committee;
(iv)</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> the home country </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;government or stock exchange requires the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">udit </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">c</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ommittee
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">to </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">be independent of the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">company&#8217;s
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">management; and (v) the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">udit </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">c</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ommittee
is responsible for the appointment, retention and oversight of the work of
external auditors. We avail ourselves of this exemption and document this on
our Section 303A Annual Written Affirmations submitted to the NYSE</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">
However, unlike the NYSE </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">l</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">isting </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">tandards requirements, according to the current
regulations relating to audit committees in Indonesia, our Audit Committee does
not have direct responsibility for the appointment, compensation and retention
of an external auditor. Our Audit Committee may only recommend the appointment
of an external auditor to the Board of Commissioners and the Board of
Commissioner&#8217;s decision must have the approval of the shareholders.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Our Audit Committee
has four members: two Independent Commissioners, one Commissioner, and one
external independent member who is not affiliated with our Company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Not all members of
our Audit Committee are independent directors as required by Rule 10A-3 of the
Exchange Act. We rely on the general exemption under Rule 10A-3 (c) (3)
regarding the composition of our Audit Committee. We believe that our reliance
on this exemption does not materially and adversely affect the ability of our
Audit Committee to act independently.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Further, we believe
that the intent of the provision which require each member of an audit
committee </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">to </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">be an independent director is to ensure that the audit
committee is independent from influence by management and provides a forum
separate from management in which auditors and other interested parties can</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> candidly discuss concerns. The OJK Audit </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Committee Regulation requires each member of an audit committee
to be either
an independent commissioner or external independent member</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. Such </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">external
independent member(s)</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> is/are</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, in effect independent not only of management but
also of the Board of Commissioners, the Board of Directors and our Company as a
whole. We therefore believe that the standard established by the OJK Audit
Committee Regulation is at least equally effective in ensuring the ability of
an audit committee to act independently.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ITEM 16E. <a name=PESIAP></a>PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED
PURCHASERS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Not applicable</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ITEM 16F. <a name=CRCA></a>CHANGE IN
REGISTRANT&#8217;S CERTIFYING ACCOUNTANT</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Not applicable.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ITEM 16</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">G</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> <a name=CG></a>CORPORATE GOVERNANCE </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The
following is a summary of significant differences between the corporate
governance practices followed by Indonesian companies and those required by
NYSE listing standards for domestic US issuers.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">a.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Overview of Indonesian Law</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Indonesian public companies are required to observe
and comply with certain good corporate governance practices. The requirements
and the standards for good corporate governance practices for public companies
are embodied in the following regulations: </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">the Indonesian Company Law; the Indonesian Capital
Market Law; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">the Indonesian Law on SOEs;
Regulation of the</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> Minister of
State-Owned Enterprises </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">No.PER-09/MBU/2012
on Amendment of Regulation of the</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">
Minister of State-Owned Enterprises </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">No.PER-01/MBU/2011
on the Implementation of Good Corporate Governance to State-Owned Enterprises;
OJK</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> r</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">egulations and</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> IDX</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> rules</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">. </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In addition to
the above, the articles of association of public companies incorporate
provisions directing the implementation of good corporate governance practices.
</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Similar to the laws of the US, Indonesian laws require
public companies to observe and comply with corporate governance standards that
are more stringent than those applied to privately-owned companies. In
Indonesia, the term &#8220;public company&#8221; does not necessarily refer to a company
whose shares are listed on a securities exchange. Under the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">Indonesian </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Capital
Markets Law, a non-listed company may be deemed a public company, and subjected
to the laws and regulations governing public companies, if such company meets or
exceeds the capital and shareholder requirements applicable to a
publicly-listed company.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">On November 30, 2004, the National Committee on
Governance (&#8220;NCG&#8221;) was established pursuant to the Decree of the Coordinating
Minister for Economic Affairs No.KEP.49/M.EKONOM/1/2004 (&#8220;KEP.49&#8221;), which was
formed to revitalize the former National Committee on Good Corporate Governance
established in 1999. The NCG</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> aims
to enhance the </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">comprehension and
implementation of good governance in Indonesia and advises the Government on
governance issues, both in public and corporate sectors.</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> Furthermore, based on Decree of the Coordinating
Minister for Economic Affairs No.KEP-14/M.EKON/03/2008, dated&#160; March</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> 18,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">
2008 (&#8220;KEP.14&#8221;), KEP.49 was revoked. Therefore, any working results which have
been made by the Committee </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">operating
under KEP.49</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, will be delivered
and continued </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">pursuant to </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">KEP.14</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The NCG formulated the Code for Good Corporate
Governance 2006 (</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">the</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#8220;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">GCG </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Code&#8221;) which recommended setting more stringent
corporate governance standards for Indonesian companies, such as the
appointment of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">i</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ndependent </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">c</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ommissioners and nomination and remuneration
committees by the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">b</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">oard of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">c</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ommissioners, as well as increasing the scope of
disclosure obligations for Indonesian companies. Although the NCG recommended
that the</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> GCG</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> Code be adopted by the Government as a basis for
legal reform, as of the date of this Annual Report, the Government has not
enacted regulations that fully implement the provisions of the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">GCG </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Code.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">b.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Composition of Independent
Board of Directors and Board of Commissioners</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The NYSE listing standards provide that the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">b</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">oard of
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">irectors of a US listed company must consist of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">a majority of independent directors </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">and that certain committees must consist solely of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">i</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ndependent
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">irectors. A </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">irector qualifies as independent only if the board
affirmatively determines that the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">irector has no material relationship with the company,
either directly or indirectly.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Unlike companies incorporated in the US, the
management of an Indonesian company consists of two organs of equal stature,
the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">b</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">oard of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">irectors and the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">b</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">oard of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">c</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ommissioners.
Generally, the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">b</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">oard of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">irectors is responsible for the day-to-day business
activities of the company and is authorized to act for and on behalf of the
company, while the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">b</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">oard of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">c</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ommissioners has the authority and responsibility to
supervise the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">b</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">oard of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">irectors and is statutorily mandated to provide advice
to the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">b</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">oard of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">irectors by</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">
the</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> Indonesian Company Law.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The Indonesian Company Law requires the board of
commissioners of a public company to have at least two members. Although the
Indonesian Company Law is silent as to the composition of the board of
commissioners</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">, IDX
Regulation I</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">-</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">A </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">states that at least 30% of the members of the board
of commissioners of a public company (such as our Company) must be independent.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The Indonesian Company Law</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> provides </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">that
the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">b</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">oard of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">irectors&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">
of a listed company </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">has the authority to
manage the daily operation</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> of the company and must have at least two members,
each of whom must meet the minimum qualification requirements set forth in the
Indonesian Company Law. In addition, based on IDX Regulation I-A, the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">b</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">oard of
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">irectors of the listed company must consist of at least one </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">independent </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">director.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Given the difference between the role of the members
of the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">b</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">oard of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">irectors in an Indonesian company and that of their
counterparts in a US company, Indonesian law does not require that certain
members of the </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">b</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">oard of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">irectors must be independent and neither does it
require the creation of certain committees composed entirely of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">i</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">ndependent
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">irectors.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">c.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Committees&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">See Item 16D &#8220;Exemptions from the Listing Standards
for Audit Committees&#8221;.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">d.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Disclosure Regarding
Corporate Governance</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The NYSE listing standards require US companies to
adopt, and post on their websites, a set of corporate governance guidelines.
The guidelines must address, among other things: director qualification
standards, director responsibilities, director access to management and
independent advisers, director compensation, director orientation and
continuing education, management succession, and an annual performance
evaluation itself. In addition, the CEO of a US company must certify to the
NYSE annually that he or she is not aware of any violations by the company of
the NYSE&#8217;s corporate governance listing standards. The certification must be
disclosed in our Annual Report to shareholders. Indonesian law does not have
disclosure requirements similar to NYSE listing standards. However, the</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> Indonesian</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">
Capital Markets Law generally requires Indonesian public companies to disclose
certain types of information to shareholders and to</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;"> the</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> OJK,
particularly information relating to changes in the public company&#8217;s shareholdings
and material facts that may affect the decision of shareholders to maintain
their share ownership in such public company.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">e.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Code of Business Conduct
and Ethics</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">The </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">NYSE listing
standards require each US listed company to adopt, and post on its website, a
code of business conduct and ethics for its </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;">d</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">irectors,
officers and employees. There is no similar requirement under Indonesian law.
However, companies that are required to file or furnish reports to the SEC must
disclose in their Annual Reports whether they have adopted a code of ethics for
their senior financial officers. Although the requirements as to the contents
of the code of ethics under SEC rules are not identical to those set forth in
the NYSE listing standards, there are significant similarities in which under
SEC rules, the code of ethics must be designed to promote: (a) honest and
ethical conduct, including the handling of conflicts of interest between
personal and professional relationships; (b) full, fair, accurate and timely
disclosure in reports and documents filed with or submitted to the SEC; (c)
compliance with applicable laws and regulations; (d) prompt internal reporting
of violations of the code and (e) accountability for adherence to the code.
Furthermore, shareholders must be given access to physical or electronic copies
of the code.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ITEM 16H. <a name=MSD></a>MINE SAFETY DISCLOSURE</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Not applicable.</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><b><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></b></a></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">PART
III</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ITEM 17. <a name=FS1></a>FINANCIAL
STATEMENTS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">We have responded to
Item 18 in lieu of this Item.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ITEM 18. <a name=FS2></a>FINANCIAL STATEMENTS</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">See pages F-1 through F-123.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ITEM 19. <a name=EX></a>EXHIBITS</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The following
exhibits are filed as part of this Form 20-F: </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td valign=top width=7% style="padding:0in 2.35pt 0in 2.35pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">1.1</font></p>
  </td>
 <td valign=top width=93% style="padding:0in 2.35pt 0in 2.35pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Articles of
  Association (as </font><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">a</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">mended on May 12, 2015)</font></p>
  </td>
 </tr>
<tr style="height:20.2pt;">
  <td valign=top width=7% style="height:20.2pt;padding:0in 2.35pt 0in 2.35pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">12</font><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">.1&nbsp;</font></p>
  </td>
 <td valign=top width=93% style="height:20.2pt;padding:0in 2.35pt 0in 2.35pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Certification
  of the Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities
  Exchange Act of 1934 and 15 U.S.C. Section 7241, as adopted pursuant to
  Section 302 of the Sarbanes-Oxley Act of 2002.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=7% style="padding:0in 2.35pt 0in 2.35pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">12</font><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">.</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">2&nbsp;</font></p>
  </td>
 <td valign=top width=93% style="padding:0in 2.35pt 0in 2.35pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Certification
  of the Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities
  Exchange act of 1934 and 15 U.S.C. Section 7241, as adopted pursuant to
  Section 302 of the Sarbanes-Oxley Act of 2002.</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=7% style="padding:0in 2.35pt 0in 2.35pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">1</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">3</font><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">.1&nbsp;</font></p>
  </td>
 <td valign=top width=93% style="padding:0in 2.35pt 0in 2.35pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Certification
  of the Chief Executive Officer pursuant to Rule 13a-14(b) of the Securities
  Exchange Act of 1934 and 18 U.S.C. Section 1350, as adopted pursuant to
  Section 906 of the Sarbanes-Oxley Act of 2002</font><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">.&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=7% style="padding:0in 2.35pt 0in 2.35pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">1</font><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">3</font><font face="Times New Roman" style="font-size:9.0pt;line-height:normal;">.2&nbsp;</font></p>
  </td>
 <td valign=top width=93% style="padding:0in 2.35pt 0in 2.35pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=IN style="font-size:9.0pt;line-height:normal;">Certification
  of the Chief Financial Officer pursuant to Rule 13a-14(b) of the Securities
  Exchange Act of 1934 and 18 U.S.C. Section 1350, as adopted pursuant to
  Section 906 of the Sarbanes-Oxley Act of 2002.</font></p>
  </td>
 </tr>
</table></div>

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<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><b><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></b></a></p>

<p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><a name=EXB1></a><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">Exhibit 1.1</font></p>

<p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">&nbsp;</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">STATEMENT ON RESOLUTIONS OF </font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ANNUAL
GENERAL MEETING OF SHAREHOLDERS</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8220;PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">PT
TELEKOMUNIKASI INDONESIA TBK&#8221;</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Number: 20</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">On this day,
Tuesday, dated 12-5-2015 (the twelfth of May two thousand fifteen), 19.50 WIB
(fifty past nineteen Western Indonesia Time).</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Appear before
myself, ASHOYA RATAM, Sarjana Hukum, Magister Kenotariatan, Notary in South
Jakarta Municipality, in the presence of witnesses known by myself, Notary, and
they will be mentioned at the end of this deed:</font></p>

<p style="margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">Mister
</font><b><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">HERDY ROSADI HARMAN, </font></b><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">born in Bandung on 28-6-1963 (the twenty eight of
June one thousand nine hundred sixty three), Indonesian citizen, the Director
of PERUSAHAAN PERSEROAN (PERSERO) PT TELEKOMUNIKASI INDONESIA Tbk, residing in
Bandung, Jalan Nanas number 24, RT. 004, RW 007, Cihapit Village, Bandung Wetan
Sub District, Bandung City, holder of Residential </font><font face="times new roman" lang=IN style="font-size:10.0pt;">Registration&nbsp;</font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;"> of
2013 (two thousand thirteen) number 3273092806630002, of which copy is attached
in the minutes of this deed, to be temporarily in Jakarta;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">According
to his statements, in this matter is acting in his capacity as mentioned above,
therefore act for and on behalf of as well as legally represent the limited
liability company &#8220;</font><b><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">PERUSAHAAN PERSEROAN (PERSERO) PT TELEKOMUNIKASI
INDONESIA TBK&#8221;</font></b><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">, domiciled in Bandung City, having its address at Jalan
Japati number 1, Bandung 40133, of which Articles of Association has been
adjusted with Law number 40 of 2007 regarding Limited Liability Company
(hereinafter sufficiently referred to as &#8220;</font><b><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">UUPT&#8221;</font></b><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">); Law number 19 of 2003
(two thousand three) regarding State-Owned Enterprise and Regulation of Capital
Market and Financial Institution Supervisory Board number IX.J.I regarding
Basic Principles of Articles of Association of the Company that conducts the
Public Offer of Equity Securities and Public Company as it has been announced
in the State Gazette of the Republic of Indonesia dated 17-10-2008 (the
seventeenth of October two thousand eight) number 84, Supplement number
20155/2008, along with all of its amendments as announced in:</font></p>

<p style="margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">State
Gazette of the Republic of Indonesia dated 9-8-2011 (the ninth of August two
thousand eleven) number 63, Supplement number 23552/2011;</font></p>

<p style="margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">State
Gazette of the Republic of Indonesia dated 10-12-2013 (the tenth of December
two thousand thirteen) number 99, Supplement number 9063/L/2013;</font></p>

<p style="margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">State
Gazette of the Republic of Indonesia dated 1-4-2014 (the first of April two
thousand fourteen) number 26, Supplement number 2990/L/2014;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">The
latest composition of members of Board of Commissioners and Board of Directors
of the said limited liability company as stated in the deed of myself, Notary,
dated 19-12-2014 (the nineteenth of December two thousand fourteen) number 35;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">(hereinafter the
said &#8220;</font><b><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">PERUSAHAAN PERSEROAN (PERSERO) PT TELEKOMUNIKASI INDONESIA Tbk</font></b><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">&#8221;
shall be referred to as the &#8220;</font><b><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">Company&#8221;</font></b><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">);&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">The
Appearer is known by myself, Notary.</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">The
Appearer in acting for this matter has previously explained as follows:</font></p>

<p style="margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">Whereas
in Friday, dated 17-4-2015 (the seventeenth of April two thousand fifteen),
located in Ruang Flores Ballroom, Borobudur Hotel, Jalan Lapangan Banteng
Selatan, Jakarta 10710, the Annual General Meeting of Shareholders of the
Company has been conducted (hereinafter referred to as the &#8220;</font><b><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">Meeting</font></b><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">&#8221;);&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">Whereas
in the said meeting, the shareholders/proxy of shareholders of Series A
Dwiwarna and the shareholders/proxy of shareholders of Series B were present
and jointly represent 80,889,851,641 (eighty billion eight hundred eighty nine
million eight hundred fifty one thousand six hundred forty one) shares or
constitute 82.39% (ninety two point three nine percent) of the total shares
with voting rights which have been issued by the Company up to the day of
Meeting (excluding the shares that have been repurchased) which are in the
amount of 98,175,853,600 (ninety eight billion one hundred seventy five million
eight hundred fifty three thousand six hundred); thus, by paying attention the
Shareholders Register as per 25-3-2015 (the twenty fifth of March two thousand
fifteen), until 16.00 WIB (sixteen o clock Western Indonesia Time); thus, the
requirement for Meeting quorum has been fulfilled and it has complied with the
provisions of Article 15 paragraph 1.a, Article 19 paragraph 7 and Article 27
paragraph 2 Articles of Association of the Company as well as Article 38
paragraph 2 UUPT, since the meeting was attended by shareholders of Series A
Dwiwarna and shareholders that represent more than 2/3 (two third) of total
shares with voting rights that have been issued by the Company;</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-GB style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:9.5pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">Whereas
the said Meeting was conducted with the agenda, among others:</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">Amendment to
Articles of Association of the Company in order to adjust it with the Regulation
of Financial Service Authority (hereinafter sufficiently referred to as &#8220;</font><b><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">OJK</font></b><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">&#8221;)
number 32/POJK.04/2014 regarding the Plan and Implementation of General Meeting
of Shareholders of Public Company, Regulation of OJK number 33/POJK.04/204
regarding Board of Directors and Board of Commissioners of Issuer or Public
Company, Regulation of Minister of State-Owned Enterprise number
PER-02/MBU/02/2015 regarding the Requirements and Procedure for the Appointment
and Termination of Members of Board of Commissioners and Supervisory Board for
State-Owned Enterprise, Regulation of Minister of State-Owned Enterprise number
PER-03/MBU/02/2015 regarding the Requirements, Procedure for the Appointment
and Termination of Members of Board of Directors of State-Owned Enterprise and
Circular Letter of Minister of State-Owned Enterprise number 3/MBU/2010;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">And in order to
add the main and supporting business activities of the Company; the addition of
special right for Shareholders of Series A Dwiwarna, amendment of provisions regarding
the authority limitation for the Board of Directors in relation to the action
from Board of Directors that require the approval from the Board of
Commissioners in performing the management activities of the Company as well as
the perfection of redaction and systematics of Articles of Association in
relation to the addition of substance of the abovementioned Articles of
Association.</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:9.5pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">Whereas
the Notification/Announcement of Meeting has been conducted on 11-3-2015 (the
eleventh of March two thousand fifteen) on The Jakarta Post, Bisnis Indonesia
and Investor Daily and the Meeting Summon has been conducted on 26-3-2015 (the
twenty sixth of March two thousand fifteen) on the same newspapers;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:9.5pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">Whereas
the said matters that are stated in the Deed of &#8220;Minutes of Annual General
Meeting of Shareholders of Perusahaan Perseroan (Persero) PT TELEKOMUNIKASI
INDONESIA Tbk&#8221; of which minutes was made by Notary ASHOYA RATAM, Sarjana Hukum,
Magister Kenotariatan, dated 17-4-2015 (the seventeenth of April two thousand
fifteen) number 26 (hereinafter sufficiently referred to as &#8220;</font><b><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">Minutes of
Meeting</font></b><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">&#8221;).&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:9.5pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">Now
therefore, the appearer by acting as mentioned above explains that he hereby
restates the resolutions that have been taken in the Meeting, namely the sixth
agenda of the Meeting as stated in the said Minutes of Meeting, are as follows:</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">&#8220;</font><b><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">Meeting with
majority votes of 97.40% (ninety seven point four zero) of the total votes
casted in the Meeting resolves:</font></b></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">1.</font></b><b><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">To
approve the amendment of some provisions of Articles of Association of the
Company in order to adjust it with the Regulation of OJK number 32/POJK.04/2014
regarding the Plan and Implementation of General Meeting of Shareholders of
Public Company, Regulation of OJK number 33/POJK.04/2014 regarding the Board of
Directors and the Board of Commissioners of Issuer or Public Company,
Regulation of Minister of State-Owned Enterprise number PER-02/MBU/02/2015
regarding the Requirements and Procedures of Appointment and Termination of
Members of Board of Commissioners and Supervisory Board of State-Owned
Enterprise, Regulation of Minister of State-Owned Enterprise Number
PER-03/MBU/02/2015 regarding Requirements, Procedures of the Appointment and
Termination of Members of Board of Directors of State-Owned Enterprise and
Circular Letter of Minister of State-Owned Enterprise number 3/MBU/2010; and
And in order to add the main and supporting business activities of the Company;
the addition of special right for Shareholders of Series A Dwiwarna, amendment
of provisions regarding the authority limitation for the Board of Directors in
relation to the action from Board of Directors that require the approval from
the Board of Commissioners in performing the management activities of the
Company as well as the perfection of redaction and systematics of Articles of
Association in relation to the addition of substance of the abovementioned
Articles of Association; in which such amendments were prepared in the Matrix
of Amendments to Articles of Association which have been distributed to the
Shareholders of the Company.</font></b></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">2.</font></b><b><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b><b><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">To
approve the grant of power of attorney to the Board of Directors of the Company
with substitution rights to restate the resolution of the Meeting in relation
to the amendment of provisions of Articles of Association of the Company,
including to prepare and restate all provisions of Articles of Association of
the Company in a Notary Deed and further, to submit the application for
approval and/or deliver the notification upon the said amendments to Articles
of Association of the Company to the Minister of Law and Human Rights of the
Republic of Indonesia and to register it in the company registry as well as to
announce it in the State Gazette of the Republic of Indonesia in accordance
with the laws and regulations.&#8221;&#160; </font></b></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:9.5pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:9.5pt;">Further,
the appearer who acts in his capacity as mentioned above, explains that
pursuant to the resolution of the sixth agenda of the Meeting and by taking
into account the power of attorney given by the Meeting to the Board of
Directors of the Company, he hereby restates the provisions of Articles of
Association of the Company so that afterwards the Articles of Association of
the Company shall be stated and read as follows:</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-GB style="font-size:8.0pt;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">Nam</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">E AND DOMICILE</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 1</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">This Limited Liability Company shall be named</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">: &quot;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">PERUSAHAAN
PERSEROAN </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">(P</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ERSERO</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">)
PT </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">TELEKOMUNIKASI INDONESIA</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Tb</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">k</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&quot; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">or
shortened into </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&quot;PT </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">TELKOM INDONESIA (PERSERO) </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Tbk&#8221;, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">hereinafter
referred to as the</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> &#8220;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Company</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&quot;,
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">domiciles in City of Bandung.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Company may open branches or representatives
anywhere, inside or outside the territory of the Republic of Indonesia as set
out by the Board of Directors</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:28.05pt;margin-right:0in;margin-top:0in;text-align:center;text-indent:-28.05pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">DURATION OF THE COMPANY</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:28.05pt;margin-right:0in;margin-top:0in;text-align:center;text-indent:-28.05pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 2</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">This Company has
been established since </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">24-9-1991
(</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the twenty fourth day of September one
thousand nine hundred and ninety one</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">)
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and has obtained legal entity status on</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 19-11-1991 (</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the nineteenth day of November one thousand nine hundred and ninety
one) based on Decision Letter of Minister of Justice Number </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">C2-6870.HT.01.01.th.91 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and established for indefinite period</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:28.05pt;margin-right:0in;margin-top:0in;text-align:center;text-indent:-28.05pt;"><b><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">PURPOSE, OBJECTIVE, AND BUSINESS ACTIVITIES</font></b><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;text-transform:uppercase;"> &nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;">Article
3</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;">1. &#160;&#160;&#160; The purpose
and objective of the Company is to promote telecommunication and informatics
network and service and optimization of Company&#8217;s resources, one and other by
paying attention to regulations of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;">2. &#160;&#160;&#160; To achieve
purpose and objective mentioned above, the Company may run the following
business activities:</font></p>

<p style="margin-bottom:.0001pt;margin-left:49.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;">a. &#160; Principal
Activities:</font></p>

<p style="margin-bottom:.0001pt;margin-left:58.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;">1)&#160; planning,
constructing, providing, developing, operating,marketing/selling/renting and
maintaining telecommunication and informatics network in broad meaning by
paying attention to regulations of law;</font></p>

<p style="margin-bottom:.0001pt;margin-left:58.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;">2)&#160; planning,
developing, marketing/selling and improving telecommunication and informatics
service in broad meaning by paying attention to regulations of law;</font></p>

<p style="margin-bottom:.0001pt;margin-left:58.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;">3)&#160; making
investment including capital participation on other companies in line with and
to achieve purpose and objective of the Company</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">. &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:49.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;">b.&#160;&#160; Support
Activities:</font></p>

<p style="margin-bottom:.0001pt;margin-left:58.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;">1)&#160; providing money
payment and transfer transaction service through telecommunication and
informatics network;</font></p>

<p style="margin-bottom:.0001pt;margin-left:58.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;">2)&#160; running other
activities and businesses in order to optimize Company&#8217;s resources including
the utilization of fixed assets and movable assets, information system
facility, education and training system, and maintenance and reparation
service;</font></p>

<p style="margin-bottom:.0001pt;margin-left:58.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;">3)&#160; cooperating with
other party in order to optimize informatics, communication, and technology
resources of other informatics, communication, and technology business actors;
in line with and to achieve purpose and objective of the Company</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=PT-BR style="font-size:10.0pt;line-height:normal;">CAPITAL</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=PT-BR style="font-size:10.0pt;line-height:normal;">Article 4</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=PT-BR style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=PT-BR style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=PT-BR style="font-size:10.0pt;line-height:normal;">The authorized capital of Company shall be Rp20,000,000,000,000.-
(twenty trillion Rupiahs) divided into 400,000,000,000 (four hundred billion)
shares consisting of 1 (one) Series A Preferred Share and 399,999,999,999
(three hundred and ninety nine billion nine hundred and ninety nine million
nine hundred and ninety nine thousand nine hundred and ninety nine) Series B
shares, each with nominal value of Rp50.- (fifty Rupiahs).</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Of such authorized capital has been subscribed </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">100</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">799</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">996</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">400 </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(one
hundred billion seven hundred and ninety nine million nine hundred and sixty
nine thousand four hundred) shares consisting of 1 (one) Series A Preferred
Share and 100,799,996,399 (one hundred billion seven hundred and ninety nine
million nine hundred and ninety six thousand three hundred and ninety nine)
Series B shares with total nominal value of </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Rp5</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">039</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">999</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">820</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">,</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">000</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">.</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">- (</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">five
trillion thirty nine billion nine hundred and ninety nine million eight hundred
and twenty thousand Rupiahs) and has been fully deposited in cash as mentioned
in deed dated </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6-4-2006 (</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the sixth day of April two thousand and six) number 4,
whose minutes made before</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> Doktor
AMRULPARTOMUAN POHAN, Sarjana Hukum, Lex Legibus Magister, </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">once a Notary in Jakarta and has been ratified by Minister
of Law and Human Rights of the Republic of Indonesia on</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 28-4-2006 (</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">the
twenty eighth day of April two thousand and six) Number </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Nomor C-12265 HT.01.04.TH.2006.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;line-height:normal;">The other shares shall be issued
according to the Company&#8217;s capital needs with terms, amount, and price as set
out by the approval of the General Meeting of Shareholders (hereinafter
referred to as the </font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;line-height:normal;">&quot;GMS&quot;) </font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;line-height:normal;">provided that prior to GMS
resolution, the Board of Directors shall previously obtain written response
from the Board of Commissioners and the shares price shall not be below par, as
well as by paying attention to Articles of Association and regulations of law
on Capital Market in Indonesia</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.25pt;line-height:normal;">In the event that the other
shares shall be issued by way of limited public offer to the shareholders, all
shareholders whose names listed on Shareholder Register on the determined date
or pursuant to the resolution of the GMS by paying attention to regulations of
law on Capital Market in Indonesia shall be entitled to buy first the shares to
be issued (hereinafter referred to as the</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&quot;</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Rights Issue</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&quot; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">or&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> &quot;</font><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">HMETD</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&quot;) </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">and each shareholder shall obtain HMETD proportionally
compared to amount of shares listed on their respective names in Shareholder
Register as meant above through cash deposit within period as stipulated by or
pursuant to the resolution of the GMS approving the issue of such new shares</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">HMETD
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">may be sold or assigned to other party,
by paying attention to provisions of Articles of Association and regulations of
law on Capital Market in Indonesia</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.
&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The issue of shares by way of limited public offer
shall be with prior approval of the GMS at the time and with the manner and
price and requirements as set out by the Board of Directors pursuant to
resolution of the GMS, one and other by paying attention to provisions of
Articles of A</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ssociation&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and regulations of law on Capital Market in
Indonesia, provided that not with below-par price</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">7.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Regarding the resolution on issue of shares by way of
limited public offer, the Board of Directors shall be obliged to announce at
least in:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1 (one) daily national Indonesian
newspaper</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> and circulate
nationally</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Website of Indonesian Stock
Exchange; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Website of the Company, in
Indonesian and English, and if required, in other languages. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">8.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">If within period stipulated by or pursuant to
resolution of the GMS mentioned above, the Company&#8217;s shareholders or HMETD
holders shall not exercise the right on shares purchase offered to them by
fully paying in cash, the Board of Directors shall be at liberty to issue such
shares to shareholders or HMETD holders willing to buy shares in amount greater
than their exercised HMETD portion, provided that if the amount of shares to be
offered by exceeding such HMETD portion shall exceed the amount of remaining
shares, such remaining shares shall be allocated between the shareholders or
HMETD holders willing to buy shares, each proportional to the amount of
exercised HMETD, as such by paying attention to regulations of law on Capital
Market in Indonesia</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">9.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that upon the allocation there shall be
remaining shares, such remaining shares shall be issued by the Board of
Directors to the party declaring its willingness to buy remaining shares at the
price not lower than and pursuant to the terms set out by the GMS approving
such issue of shares, one and other by paying attention to provision of
Articles of Association and regulations of law on Capital Market in Indonesia</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">10.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The provisions of these paragraphs 4 to 9 shall mutatis
mutandis apply in the event that the Company issued convertible bonds and/or
warrants and/or other similar equity securities, one and other by paying
attention to provisions of Articles of Association and regulations of law on
Capital Market in Indonesia</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">11.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Upon the exercising of deposited shares issue to the
holders of convertible bonds, warrants, and other similar equity securities,
the Board of Directors of the Company shall be authorized to issue such shares
without giving the rights to the existing shareholders to previously buy such
shares, one and other by paying attention to provisions contained in Articles
of Association and regulations of law on Capital Market in Indonesia</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">12.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors shall also be authorized to
issue deposited shares, convertible bonds, warrants, and/or other similar
equity securities, without granting HMETD to the existing shares, including by
way of private placement or public offer, provided that such issue of shares,
convertible bonds, warrants, and/or other similar equity shares shall obtain
prior approval from the GMS and by paying attention to regulations of law on
Capital Market in Indonesia</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">13.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The provisions contained in these paragraphs 4 to 12
of this Article shall mutatis mutandis apply in the event of increasing
authorized capital followed by further shares subscription.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">14.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Any resolution of the GMS as meant in these paragraphs
4 to 12 of this Article shall be attended and approved by Series A Preferred
Share holder</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:28.05pt;margin-right:0in;margin-top:0in;text-align:center;text-indent:-28.05pt;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">S</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">HARES&nbsp;</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:28.05pt;margin-right:0in;margin-top:0in;text-align:center;text-indent:-28.05pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 5</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">All Company&#8217;s shares shall be registered shares and
issued in the name of the owners as listed on Shareholder Register consisting
of Series A Preferred Share specially owned by the Republic of Indonesia and
Series B shares may be owned by people</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Series A Preferred Share shall be entitled
particularly to</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">:&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Propose nomination binding and approving the
appointment of the Board of Directors or Board of Commissioners;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Approve the amendment to Articles of Association,
including the increasing or decreasing of subscribed and deposited capital;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">Approve the merger,
amalgamation, taking over, and spin-off;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">d.</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">Aprrove the dissolution and liquidation;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">e.</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">Ask in writing reports and
inquiries on matters related to the Company including the implementation of
Board of Directors&#8217; actions as meant in Article 17 paragraph 7 to the Board of
Directors and/or Board of Commissioners by paying attention to regulations of
law, including regulations of law on Capital Market. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">Implementation which shall be pursuant to the
provisions of Articles of Association.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">3.&#160;&#160;&#160;&#160; The Company
shall only acknowledge one person or legal entity as the owner of one share,
being the person or legal entity whose name listed as the owner of the
concerned share on the Shareholder Register.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">4.&#160;&#160;&#160;&#160; The Company
shall be obliged to provide the evidence of share ownership in forms of share
certificate or collective share certificate on the owner&#8217;s name as listed on
the Company&#8217;s Shareholder Register, if the Company&#8217;s shares not included in
Collective Depository with Settlement and Depository Agency; whereas the for
and content shall be set out by the Board of Directors by paying attention to
regulations of law on capital market.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">5.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">For shares included in Collective Depository with Settlement
and Depository Agency or with Custodian Bank (especially in order for
Collective Investment Agreement), the Company shall be obliged to issue
certificate or written Confirmation to the Settlement and Depository Agency or
to the Custodian Bank (especially in order for Collective Investment Agreement)
signed by the Board of Directors of the Company</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">6.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The certificate or written Confirmation issued by the
Company for shares included in Collective Depository shall mention at least:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=ES style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Name and address of Settlement and Depository Agency
or Custodian Bank performing the concerned Collective Depository;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;line-height:normal;">Date of
issue of certificate or written Confirmation;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;line-height:normal;">Amount of
shares included in certificate or written confirmation;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">d.</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Total nominal value of shares included in certificate
or written confirmation;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">e.</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Requirements that any shares in
Collective Depository with similar classification shall be equal and
convertible to each other</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">7.&#160;&#160;&#160;&#160; In the event
that the shares due to any reason whatsoever shall be owned by several persons,
thsose who jointly own shall be obliged to appoint in writing one of their kind
or other person as their mutual proxy and only the name of appointed proxy that
shall be included in in Shareholder Register and shall be considered as the
shareholder of the concerned share and shall be entitled to exercise the rights
granted by la won such share.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">8.&#160;&#160;&#160;&#160; Insofar that
the provision in paragraph 7 above shall not be implemented, the shareholders
shall not be entitled to cast votes at the GMS, whereas the dividend payment
for such shares shall be suspended.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">9.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">All shares issued by the Company may be collateralized
by following the provisions of regulations of law on shares collateralization,
regulations of law on Capital Market in Indonesia and Law Number 40 of 2007 on
Limited Liability Company (hereinafter referred to as &#8220;</font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">UUPT</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221;)</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">10.&#160; Any shareholder
shall be subject to Articles of Association and to all resolutions taken
validly at the GMS as well as regulations of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">11.&#160; For shares
listed in Indonesian Stock Exchange shall apply regulations of law on Capital
Market in Indonesia. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-37.7pt;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">REPLACEMENT OF SHARE CERTIFICATE</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;"> &nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:28.05pt;margin-right:0in;margin-top:0in;text-align:center;text-indent:-28.05pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 6</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event of damaged or unusable share certificate,
then at the written request of the owner of such certificate to the Board of Directors
of the Company by providing the evidence of such unusable share certificate,
the Board of Directors shall issue the replacement of share certificate with
the same number to the original number. The cost required in replacing such
share certificate shall be borne by the concerned shareholder</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The original share certificate as meant in paragraph 1
above shall be destroyed by the Board of Directors at the next meeting of the
Board of Directors and shall be made minutes to be reported at the subsequent
GMS</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event of lost or completely damaged share
certificate, then to the concerned shareholder submitting written request to
the Board of Directors for replacement, shall be given such replacement and the
cost shall be borne by the concerned shareholder, provided that the concerned
shareholder shall provide evidence of reporting document from the Police
Department of the Republic of Indonesia on the lost share certificate or other
evidence acceptable to the Board of Directors that the share certificate are
really completely damaged and give sufficient assurance as deemed necessary by
the Board of Directors for each special occurrence</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">For the issue of lost share certificate listed on
Indonesian Stock Exchange shall apply regulations of law on Capital Market in
Indonesia and regulations of Indonesian Stock Exchange where the Company&#8217;s
shares listed and shall be announced in Stock Exchange where the Company&#8217;s
shares listed pursuant to regulations of Indonesian Stock Exchange where the
Company&#8217;s shares listed</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The issue of replacement of share certificate pursuant
to this Article shall result in the voidance and inapplicability of original
share certificate</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The provision in this Article 6 shall mutatis mutandis
apply to the issue of replacement of collective share certificate or
replacement of certificate or written confirmation</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:28.05pt;margin-right:0in;margin-top:0in;text-align:center;text-indent:-28.05pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:28.05pt;margin-right:0in;margin-top:0in;text-align:center;text-indent:-28.05pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">SHAREHOLDER REGISTER AND SPECIAL REGISTER</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 7</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors or the appointed proxy shall be
obliged to procure Shareholder Register and Special Register at the Company&#8217;s
domicile</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Shareholder Register shall record</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">:&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a. &#160;&#160;&#160; nam</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e and address of the shareholders</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">b. &#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">amount, number, and obtainment date of share
certificate or collective share certificate owned by the shareholders</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">c. &#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">deposited amount on each share</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d. &#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">name and address of person or legal entity having lien
on shares or as the fiduciary beneficiary of shares and obtainment date of lien
or registration date of fiduciary; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">e. &#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">other information deemed necessary by the Board of
Directors and/or required by regulations of law</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Special Register shall record the information on
share ownership of the Board of Directors and Board of Commissioners and their
family in the Company and/or other Company and the acquisition date of such
shares</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Any change to address of the shareholder shall be
notified in writing</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Insofar such notification shall not be received, all
letters to the shareholders or announcement and notice of the GMS shall be
delivered to the address of shareholders recently recorded on the Company&#8217;s
Shareholder Register</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors shall be obliged to save and
maintain Shareholder Register and Special Register as well as possible</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6. &#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors may appoint and authorize the
Stock Administration Office to record and administer the Company&#8217;s shares in
Shareholder Register</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">7.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Any shareholder shall be entitled to examine the
Shareholders and Special Register in respect of himself during the Company&#8217;s office
hours</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">8.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The recording on and/or change to Shareholder Register
shall be approved by the Board of Directors as evidenced by the signing of
recording on the change by the President Director and President Commissioner or
their lawful proxies, or by the Stock Administration Office appointed by the
Board of Directors pursuant to regulations of law on Capital Market in
Indonesia</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">9.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Any registration or recording in Shareholder Register
including the recording of sale, transfer, collateralization, pledge, or
fiduciary in respect of shares or rights or interest on shares performed
pursuant to the provisions of these Articles of Association and for the shares
listed on Indonesian Stock Exchange shall apply regulations of law on Capital
Market in Indonesia</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">10.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">At the request of the concerned shareholder or lien or
fiduciary beneficiary on shares shall be recorded in Shareholder Register with
manner to be determined by the Board of Directors on the basis of sufficient
evidence satisfactory to the Board of Directors regarding the concerned lien or
fiduciary. The acknowledgment of lien by the Company as required in Article
1153 of Indonesian Civil Code shall only be evidenced from the recording of
such lien in Shareholder Register</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;text-transform:uppercase;">COLLECTIVE DEPOSITORY</font></b><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;text-transform:uppercase;"> &nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Article </font></b><b><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">8 &nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">1.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Shares in Collective Depository with Settlement and
Depository Agency shall be recorded in the Company&#8217;s Shareholder Register under
the name of Settlement and Depository Agency for the benefit of account holder
with the Settlement and Depository Agency.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">2.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Shares in Collective Depository with Custodian Bank or
Securities Company shall be recorded in the Securities account with the
Settlement and Depository Agency under the name of Custodian Bank or Securities
Company for the benefit of Securities account holder with the Custodian Bank or
Securities Company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">3.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">If the shares in Collective Depository with the
Custodian Bank shall be the part of Mutual Fund Securities in form of
Collective Investment Agreement and not included in Collective Depository with
Settlement and Depository Agency, the Company shall record the shares into the
Company&#8217;s Shareholder Register under the name of Custodian Bank for the benefit
of Participation Unit of Mutual Funds in form of Collective Investment
Agreement.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">4.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The Company shall be obliged to issue certificate or
written confirmation to the Settlement and Depository Agency as meant in
paragraph 1 of this Article or Custodian Bank as meant in paragraph 3 above as
the evidence of registration into the Shareholder Register.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">5.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The Company shall transfer shares in Collective
Depository registered under the name of Settlement and Depository Agency or
Custodian Bank for Mutual Funds in form of Collective Investment Agreement in
the Shareholder Register into the name of party appointed by the Settlement and
Depository Agency or Custodian Bank. The application for transfer shall be
submitted in writing by the Settlement and Depository Agency or Custodian Bank
to the Company or Securities Administration Office appointed by the Company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">6.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Settlement and Depository Agency, Custodian Bank, or
Securities Company if requested by the concerned shareholder shall issue
recording note as confirmation to the shareholder being the Securities account
holder and as the evidence of recording on the ownership of shares by the
concerned shareholder as recorded in its Securities account with Collective
Depository, provided that such recording note as confirmation shall be signed
on the name of Settlement and Depository Agency or Custodian Bank or Securities
Company promoting such Collective Depository as the evidence of recording into
Securities account</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">7.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">In the Collective Depository, any share from the same
type and classification issued by the Company shall be equal to and convertible
each other.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">8.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The Company shall refuse the registration of shares
transfer into Collective Depository if the share certificate is lost or
destroyed, unless the shareholder applying for transfer shall provide
sufficient evidence and assurance acceptable to the Company that the concerned
party is the real shareholder of the lost or destroyed share and such share is
really lost or destroyed.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">9.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The Company shall refuse the registration of shares
into Collective Depository if the shares are collateralized, put under
attachment pursuant to court&#8217;s decision or confiscated for criminal case
investigation.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">10.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The Securities account holder whose shares registered
in Collective Depository with Settlement and Depository Agency or the Securities
sub-account holder whose shares listed on Securities account of Custodian Bank
or Securities Company shall be entitled to cast vote at the GMS pursuant to the
amount of shares owned in such Securities account.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">11.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The Securities account holder entitled to cast vote at
the GMS shall be those whose names recorded as the S</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">ecurities </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">account
holder with Settlement and Depository Agency or whose names listed as the
Securities sub-account holder in Securities account of Custodian Bank or
Securities Company 1 (one) day prior to the notice of the GMS</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">12.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Custodian Bank and Securities Company shall deliver the
list of Securities account holder and Securities sub-account holder as well as
the amount of the Company&#8217;s shares owned by each Securities account holder or
Securities Company to the Company within 1 (one) business day prior to the&#160;
notice of the GMS to be registered into Shareholder Register specifically
provided to hold such GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">13.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;letter-spacing:-.2pt;line-height:normal;">The Investment Manager shall be
entitled to attend and cast vote at the GMS on the shares included in
Collective Depository with Custodian Bank constituting parts of Mutual Fund
Securities portfolios in form of Collective Investment Agreement and not
included in Collective Depository with Settlement and Depository Agency provided
that the Custodian Bank shall submit the Investment Manager&#8217;s name to the
Company within 1 (one) business day prior to the notice of the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">14.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;letter-spacing:-.15pt;line-height:normal;">The Company shall give dividend,
bonus shares, or other rights in respect of share ownership in Collective
Depository to the Settlement and Depository Agency and such Settlement and
Depository Agency shall forward the dividend, bonus shares, or other rights to
the Custodian Bank and or Securities Company recorded as the account holder
with Settlement and Depository Agency to be forwarded to the Securities account
holder with the Custodian Bank and/or Securities Company</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">15.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The Company shall give dividend, bonus shares, or other
rights in respect of share ownership to the Custodian Bank on shares in
Collective Depository with Custodian Bank constituting parts of Mutual Funds
Securities portfolios in form of Collective Investment Agreement and not
included in Collective Depository with Settlement and Depository Agency.</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">16.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;line-height:normal;">The deadline for determining
Securities account holder entitled to enjoy dividend, bonus shares, or other
rights in respect of share ownership in Collective Depository shall be resolved
by or pursuant to the resolution of the GMS provided that the Custodian Bank
and Securities Company shall submit the list of Securities account holder along
with the amount of the Company&#8217;s shares owned by each Securities account holder
to the Settlement and Depository Agency, at the latest date being the
determination&#160; basis for shareholders entitled to enjoy dividend, bonus shares,
and other rights, to be forwarded then to the Board of Directors of the Company
within 1 (one) business day upon the date being the determination basis for
shareholders entitled to enjoy dividend, bonus shares, and other rights.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">ASSIGNMENT OF RIGHT TO SHARES</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 9 </font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;line-height:normal;">In the event of change of share
ownership, the former owner registered in the Shareholder Register shall be
deemed still as the shareholder until the new shareholder&#8217;s name has been
recorded in the Company&#8217;s Shareholder Register by paying attention to
regulations of law and provisions of Indonesian Stock Exchange where the
Company&#8217;s shares registered</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Assignment of right to shares not included in
collective depository shall be based on deed of assignment of right signed by
the assignor and the assignee or their lawful proxies or based on other letters
sufficiently evidence such assignment of right at the Board of Director&#8217;s
opinion without reducing the provisions in these Articles of Association and by
paying attention to regulations of law on Capital Market in Indonesia</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The deed o</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">f&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> assignment of right or other letter as meant in
paragraph 2 above shall be in form as set out and/or acceptable by the Board of
Directors and the copy thereof shall be delivered in writing to the Company,
provided that the document of assignment of right to share listed in Indonesian
Stock Exchange shall fulfill the regulations of law on Capital Market in
Indonesia and regulations of Indonesian Stock Exchange where the Company&#8217;s
shares listed.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The assignment of right to shares listed in the
account in Collective Depository shall be recorded as transfer from one
Securities account to other Securities account with Settlement and Depository Agency,
Custodian Bank, and Securities Company</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The assignment of right to shares shall only be
permitted if all provisions in Articles of Association have been fulfilled.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The assignment of right to share not included in
collective depository shall be recorded in Shareholder Register, share
certificate, and collective share certificate</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Such record shall be signed by the President Director
and President Commissioner or their lawful proxies or Administration Office
appointed by the Board of Directors</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.
&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">7.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors at their own discretion with
providing reason may refuse to register the assignment of right to shares into
Shareholder Register if the provision in these shall not be fulfilled or if one
of requirements in assignment of shares shall not be fulfilled.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">8.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">If the Board of Directors shall refuse to record the
assignment of right to shares, the Board of Directors shall submit the refusal
notification to the party assigning the right within 30 (thirty) days upon the
date of application received by the Board of Directors, provided that regarding
the Company&#8217;s shares listed in Indonesian Stock Exchange by paying attention to
regulations of law on Capital Market in Indonesia including the regulations
applicable in Indonesian Stock Exchange where the Company&#8217;s shares listed.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">9.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;line-height:normal;">The Shareholder Register shall
be closed on 1 (one) business day prior to the date of notice of the GMS, to
determine the shareholder names entitled to attend the GMS</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">. &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">10.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;line-height:normal;">Person who enjoys the right to
shares due to the death of shareholder or due to any other reason causing the
change of share ownership at law, by providing evidence of right as required at
any time by the Board of Directors may apply in writing to be registered as a
shareholder.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;line-height:normal;">The registration shall only be
made if the Board of Directors accepted such evidence of right, without
reducing the provision in Articles of Association as well as regulations of law
on Capital Market in Indonesia</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">11.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">All limitations, prohibitions, and provisions in
Articles of Association regulating the right to assign the right to shares and
registration of assignment of right to shares shall also mutatis mutandis apply
to any right transition according to paragraph 10 of this Article</font><font face="Times New Roman" lang=ES-MX style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">12.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">For the assignment of shares listed in Indonesian
Stock Exchange shall apply regulations of law on Capital Market in Indonesia,
whereas the right to Series A Preferred shares may not be assigned to anyone</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">13.&#160; The shareholder
applying for the GMS and in the event that such application shall be fulfilled
by the Board of Directors, Board of Commissioners, or pursuant to court&#8217;s
decision, shall be obliged not to assign its shares at least within 6 (six)
months since the GMS.</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Times lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=PT-BR style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">GENERAL MEETING OF SHAREHOLDERS</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=PT-BR style="font-size:10.0pt;line-height:normal;">Article 10</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=PT-BR style="font-size:10.0pt;line-height:normal;">1.&#160;&#160;&#160;&#160; The GMS in
the Company shall be:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Annual GMS, as meant in Article 11 of these
Articles of Association</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">b.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The other GMS hereinafter referred to as the
Extraordinary GMS held at anytime based on the needs as set out in Article 12
of these Articles of Association</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The term GMS herein shall mean both of them, they are
the Annual GMS and the Extraordinary GMS, unless explicitly stated otherwise</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The GMS, in other agenda shall not be entitled to take
resolution, unless all Shareholders present and/or represented at the GMS and
approve the additional agenda of the GMS and such additional agenda of the GMS
shall be unanimously agreed</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">ANNUAL GENERAL MEETING OF SHAREHOLDERS</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 11</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Annual GMS shall be hold annually, at the latest
at the end of June each year after the conclusion of the Company&#8217;s book</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">At the Annual GMS</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">:&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors shall be obliged to submit
annual report as meant in Article 23 paragraph 7</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">b.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors shall be obliged to submit the
proposed Company&#8217;s profit utilization</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">c. &#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Shall be conducted the appointment of public
accountant office registered with Financial Service Authority as proposed by
the Board of Commissioners, to conduct audit on the Company&#8217;s Financial Report
during ongoing year, including internal control audit on financial report;
pursuant to the applicable provisions from capital market authority where the
Company&#8217;s shares registered and/or listed</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d. &#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors may propose other matters for
the Company&#8217;s interest pursuant to the provisions of Articles of Association</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The approval of Annual Report including the validation
of financial report by the Annual GMS shall mean giving release and discharge
of responsibility fully to the Board of Directors and the Board of
Commissioners for management and supervision actions performed during the
previous fiscal year, insofar such action reflected in Annual Report and
Financial Report</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that the Board of Directors and the Board
of Commissioners shall be failed to hold the Annual GMS within stipulated time,
1 (one) shareholder or more owning at least 1/10 (one tenth) of total voting
shares shall be entitled to make notice of the Annual GMS at the Company&#8217;s
expense upon obtaining permit from the Head of District Court whose
jurisdiction covers the Company&#8217;s domicile</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article </font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">12&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors shall be authorized to hold the
Extraordinary GMS</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2.&#160;&#160;&#160;&#160; The Extraordinary GMS
may be held at any time in accordance with the Company&#8217;s needs.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">3.&#160;&#160;&#160;&#160; The Extraordinary GMS
shall be authorized to take resolution on agenda presented at such GMS,
pursuant to the GMS&#8217; authorization within a limit set out by the Articles of
Association and regulations of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">4.&#160;&#160;&#160;&#160; The Extraordinary GMS
shall not be authorized to discuss and resolve the GMS agenda on annual report
approval and financial report validation, and Company&#8217;s profit utilization
determination.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">&#160;</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">PLACE AND NOTICE FOR TGE GENERAL MEETING OF
SHAREHOLDERS</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 13</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The GMS shall be held within the territory of the
Republic of Indonesia, being:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Company&#8217;s domicile;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Company&#8217;s main operation;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Capital of province covering the
Company&#8217;s domicile or main operation; or</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Province covering the Stock Exchange&#8217;s domicile where
the Company&#8217;s shares listed.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Annual GMS and Extraordinary GMS shall be held
with Notification of GMS to the Financial Service Authority, Announcement and
Notice of the GMS as set out herein.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The notification of GMS agenda to Financial Service
Authority and notification of change to GMS agenda to Financial Service
Authority shall be made pursuant to regulations of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">4.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">No later than 14 days prior to the
notice of the GMS without calculating the date of announcement of GMS and date
of notice of GMS, the party entitled to make notice of GMS shall make
announcement to the shareholders regarding such notice of GMS.</font></p>

<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Times lang=EN-GB style="font-size:10.0pt;">&nbsp;</font></b></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">5.</font><font face="times new roman" lang=ES style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">The GMS announcement shall contain at least:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=ES style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">Information that notice of the GMS to be made</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=ES style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The shareholders entitled to be present at the GMS;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=ES style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The shareholders entitled to
propose agenda of the GMS;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">d.</font><font face="times new roman" lang=ES style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">Date of notice of the GMS;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">e.</font><font face="times new roman" lang=ES style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">Date of the GMS; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">f.</font><font face="times new roman" lang=ES style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Information that the GMS is held
at the request of shareholders and/or Board of Commissioners, in the event that
the GMS is held at the request of the shareholders and/or Board of
Commissioners as meant in paragraph 11 below</font><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">(hereinafter referred to as &#8220;</font><b><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">Announcement
of the GMS</font></b><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">&#8221;). &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The notice for the GMS shall be made no later than 21
(twenty first) day prior to the date of GMS without calculating the date of
notice for the GMS and date of the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">7.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The notice shall contain at least:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Date, time, and place of the GMS;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The shareholders entitled to
attend the GMS;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Agenda of meeting including
explanation of each agenda;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">d.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Information that material related
to meeting are available for the shareholders since the date of notice of the
GMS until the date of the GMS including annual report and profit-loss balance
sheet of the Company for the Annual GMS; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Information that the GMS is held
at the request of shareholders and/or Board of Commissioners; in the event that
the GMS is held at the request of the shareholders and/or Board of
Commissioners as meant in paragraph 11 below</font><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(hereinafter the process of giving such notice
referred to as the </font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8220;Notice of the GMS&#8221;</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">) whereas the letter/document for
notice of the GMS referred to as the </font><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8220;Notice for the GMS&#8221;</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">).&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">8.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The announcement of GMS and Notice for the GMS to the
shareholders as meant in this Article, shall be made at least by:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1&nbsp;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> (</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">one</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">) </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">daily
nationally circulated Indonesian newspaper;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1 (</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">one</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">) </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">daily English newspaper, as required by the Board of
Directors;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Stock Exchange website; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Company&#8217;s website in Indonesian and English and if
required, other languages.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">9.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The announcement of the GMS in foreign language shall
contain the same information as in announcement of the GMS in Indonesian.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event of different interpretation between the
information announced in foreign language and Indonesian, the prevailing
information shall be in Indonesian.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">10.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Provision on Announcement and Notice for the GMS in
this Article shall mutatis mutandis apply for the GMS held by the shareholders
obtaining permit from the court&#8217;s decision to hold the GMS</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">11.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Commissioners and/or 1 (one) or more
shareholders jointly representing 1/10 (one tenth) or more of total voting
shares may request to hold the GMS</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">12.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The request to hold the GMS as
meant in paragraph above shall:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Be submitted to the Board of
Directors by registered mail with copies delivered to the Board of
Commissioners;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Be made in good faith;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Consider the Company&#8217;s interest;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">d.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Be the request of requiring
resolution of the GMS;-</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Be with reason and material
related to matters to be resolved at the GMS; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">f.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Not be against the Articles of Association
and regulations of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">13.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Upon receiving the request of the GMS from the
shareholders and/or Board of Commissioners as meant in paragraph 11 and
paragraph 12 above, the Board of Directors shall be obliged to make
Announcement of GMS no later than 15 (fifteen) days since the date of request
of the GMS received by the Board of Directors</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">14.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that the Board of
Directors not making Announcement of the GMS, then</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;line-height:normal;">:&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;line-height:normal;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:.15pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;line-height:normal;">The shareholders may ask another
request to hold the GMS to the Board of Commissioners;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:.15pt;line-height:normal;">The Board of Commissioners may
make Announcement of the GMS that initially asked by the Board of
Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">15.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Commissioners shall be obliged to make
Announcement of GMS to the shareholders no later than 15 (fifteen) commencing
as of the date of request of GMS submitted by the shareholders as meant in
paragraph 14 letter a above has been received by the Board of Commissioners</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font color=black face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">16.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a.&#160;&#160;&#160;&#160; In the event that the Board of Directors and
the Board of Commissioners not making Announcement of the GMS within stipulated
period as meant in paragraph 13 or paragraph 15 above, the Board of Directors
or Board of Commissioners no later than 15 (fifteen) days since the Board of
Directors or Board of Commissioners receiving the request of GMS, shall be
obliged to announce information transparency regarding:</font></p>

<p style="margin-bottom:.0001pt;margin-left:81.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;vertical-align:baseline;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;"> </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The request of GMS from the shareholders as meant in
paragraph 11 or paragraph 14 letter a above; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:81.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;vertical-align:baseline;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;"> </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Reason not holding GMS</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;vertical-align:baseline;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">b.&#160;&#160;&#160;&#160; The
information transparency as meant in letter a of this Article shall be made at
least by:</font></p>

<p style="margin-bottom:.0001pt;margin-left:81.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;vertical-align:baseline;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">1)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;line-height:normal;">
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">1 (one) daily
nationally circulated Indonesian newspaper;</font></p>

<p style="margin-bottom:.0001pt;margin-left:81.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;vertical-align:baseline;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">2)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;line-height:normal;">
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">Stock
Exchange website; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:81.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;vertical-align:baseline;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">3)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;letter-spacing:-.1pt;line-height:normal;">
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">Company
website, in Indonesian and English and if required, in other languages.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;">c.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The announcement of information transparency in
English or foreign language shall contain the same information as in
announcement of information transparency in Indonesian.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event of different interpretation between the
information announced in English or foreign language and Indonesian, the
prevailing information shall be in Indonesian.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">17.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that Board of Commissioners not making
Announcement of GMS as meant in paragraph 15 of this Article, the shareholders
may request to hold GMS at the Company&#8217;s expense to the Head of District Court
whose jurisdiction cover the Company&#8217;s domicile</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">18.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The shareholders obtaining permit pursuant to District
Court decision to hold the GMS as meant in paragraph 17 above, shall be obliged
at the Company&#8217;s expense to hold GMS, therefore shall make Announcement of the
GMS, Notice of the GMS and Announcement of Minutes Summary of the GMS, and
fulfill the requirements of holding GMS as set out in Articles of Association
and regulations of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">19.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a.&#160;&#160;&#160;&#160;  1 (one) or more
shareholders representing at least 1/20 (one twentieth) of total voting shares
issued by the  Company may propose GMS agenda.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b. &#160;&#160;&#160; the proposed GMS agenda as meant above shall:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">b</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e submitted in writing to the Board of Directors no
later than 7 (seven) days prior to Notice for the GMS;-</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">b</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e made in good faith;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">3)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">c</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">onsider the Company&#8217;s interest;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">4)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">b</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e with reason and material of proposed meeting agenda;
and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">5)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">n</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">ot be against regulations of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c.&#160;&#160;&#160;&#160; the proposal from the
shareholders as meant in letter a above shall be included in the GMS agenda, if
according to Board of Directors&#8217; opinion, such proposal has fulfilled
requirements in letter b above.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">20.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Company shall be obliged to make revised Notice
for the GMS if there is change to information in Notice for the GMS made as
meant in paragraph 6 of this Article</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that the revised Notice for the GMS
related to the date of GMS and/or additional agenda of the GMS, the Company
shall be obliged to make another notice of the GMS with manner of Notice of the
GMS as meant in paragraph 6 and paragraph 8 above</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The obligation to make another notice of the GMS as
meant above shall not be applied if the revised Notice for the GMS regarding
the date of the GMS and/or additional agenda of the GMS not caused by Company&#8217;s
fault.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Media of Notice for the GMS as meant in paragraph 8 of
this Article shall mutatis mutandis apply to revised Notice for the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">CHAIRPERSON AND MINUTES OF THE GENERAL MEETING OF
SHAREHOLDERS</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">14&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The GMS shall be chaired by Commissioner appointed by
the meeting of the Board of Commissioners</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that all Commissioners are absent or
unable to attend, the GMS shall be chaired by one Director appointed by the
Board of Directors</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that all Commissioners or Directors are
absent or unable to attend the GMS, the GMS shall be chaired by the shareholder
attending the GMS appointed among and by the participants of the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that the Commissioner appointed by the
meeting of the Biard of Commissioners chairing GMS has conflict of interest
with agenda to be resolved at the GMS, the GMS shall be chaired by other
Commissioner not having conflict of interest appointed by the meeting of the
Board of Commissioners</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that all Commissioners have conflict of
interest, the GMS shall be chaired by one Director appointed by the Board of
Directors</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that the Director appointed by the Board
of Directors to chair the GMS has conflict of interest with the agenda to be
resolved at the GMS, the GMS shall be chaired by other Director not having
conflict of interest</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">7.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that all Directors have conflict of
interest, the GMS shall be chaired by one non-controlling shareholder or
representative/proxy of shareholder elected by other majority shareholders
present or represented at the GMS</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">8.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Those attending the GMS shall prove their
authorization to be at the GMS, pursuant to the requirements set out by the
Board of Directors or Board of Commissioners at the time of Notice of the GMS
as such provided that for the shares listed in Stock Exchange shall be with
paying attention to regulations of law on Capital Market in Indonesia</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">9.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Of anything discussed and resolved at the GMS, minutes
of the GMS shall be made by Notary.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Such minutes of the GMS shall be valid evidence to all
shareholders and third party regarding the resolution and anything occurred at
the GMS</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">Q</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">uorum, </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">VOTING RIGHTS, AND RESOLUTION</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;"> &nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 15</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a.&#160;&#160;&#160;&#160; The GMS may be held if
attended or represented by shareholders representing more than &#189; (a half) of
total voting shares issued by the Company, unless these Articles of Association
and/or regulations of law shall require bigger quorum</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b. &#160;&#160;&#160; In the event that
quorum as meant in letter a above shall not be reached, the notice for the
second GMS may be held and the second GMS may be held if attended or
represented by 1/3 (a third) of total voting shares, unless these Articles of
Association and/or regulations of law shall require bigger quorum.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c.&#160;&#160;&#160;&#160; The second GMS may be
held at the earliest period of 10 (ten) days and at the latest period of 21
(twenty one) days upon the previous GMS was held.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">d.&#160;&#160;&#160; The notice for the
second GMS shall be made with the conditions that:</font></p>

<p style="margin-bottom:.0001pt;margin-left:63.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The notice for the GMS shall be
made within 7 (seven) days prior to the second GMS;</font></p>

<p style="margin-bottom:.0001pt;margin-left:63.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The notice for the second GMS
shall mention that the previous GMS was held without reaching quorum as set out
in letter a above.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">e.&#160;&#160;&#160;&#160; - In the event that
the quorum of the second GMS as meant in letter b above shall not be reached,
the third GMS may be held upon reaching the quorum, requirements of Notice for
the GMS, and time to hold the GMS as set out by Financial Service Authority at
the Company&#8217;s request.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">- The notice for the third GMS shall mention that the
second GMS was held without reaching quorum.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">- The resolution of the third GMS shall be valid if
approved by shareholders on the basis of requirements to take resolutions set
out by the Financial Service Authority.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The shareholder may be represented
by other shareholder or other person by power of attorney.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The power of attorney shall be made and signed in form
as set out by the Company&#8217;s Board of Directors, without reducing the provisions
of law on civil evidence and shall be submitted to the Board of Directors no
later than 3 (three) business days prior to the date of the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The chairperson of the GMS shall be entitled to ask
that the power of attorney to represent shareholder to be presented to it
during the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Shareholder shall not be entitled to authorize
more than one proxy for parts of shares being owned with different votes, the
vote cast by or for the shareholder shall apply to all shares being owned. Such
provision shall be excluded for Custodian Bank or Securities Company as
Custodian representing its client as the Company&#8217;s shareholder.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">3.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">At the GMS, one share shall give
right to cast 1 (one) vote.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">4.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Directors, Commissioners, and
employees of the Company may act as proxies at the GMS, but the votes cast by
them shall not be counted in voting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">5.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Voting regarding person shall be
made in closed ballot without signature and regarding other matters shall be
made verbally, unless the chairperson of the GMS shall provide otherwise
without any objection from 1 (one) or more shareholders jointly representing at
least 1/10 (one tenth) of total voting shares.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">6.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Blank or invalid votes shall be
deemed to follow the votes cast by majority voting shareholders.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">7.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The resolution of the GMS shall be
made on the basis of deliberation to reach consensus. In the event that that
consensus shall not be reached, the resolution shall be taken by voting on the
basis of affirmative votes more than &#189; (a half) of total voting shares present
at the GMS, unless the Articles of Association and/or regulations of law
provides that the resolution shall be valid if approved by bigger affirmative
votes.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that all resolutions proposed not gaining
affirmative votes more than &#189; (a half) of total vote cast, the voting shall be
repeated to 2 (two) most voted proposals, so that one of them shall gain more
than &#189; (a half) of total votes.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event of equal votes, if regarding person shall
be with lucky draw and regarding other matters shall be deemed as refused.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:5.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">8.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The GMS regarding transaction
agenda having conflict of interest as meant in Article 30 paragraph 1 herein,
shall be held with the following conditions:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The GMS may be held if attended or
represented by independent shareholders, those not having conflict of interest
(hereinafter referred to as the </font><b><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">&#8220;Independent Shareholders&#8221;</font></b><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">) representing
more than &#189; (a half) of total voting shares owned by all Independent
Shareholders and the resolution of the GMS shall be valid if approved by
Independent Shareholders representing more than &#189; (a half) of total voting
shares owned by Independent Shareholders</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">In the event that quorum as meant
in letter a shall not be reached, the second GMS may be held and entitled to
take resolution if attended and/or represented by Independent Shareholders
representing more than &#189; (a half) of total voting shares owned by Independent Shareholders</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The resolution of the second GMS shall be valid if
approved by Independent Shareholders and/or their representatives/proxies
representing more than &#189; (a half) of total voting shares owned by Independent
Shareho</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">l</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">ders attending the GMS</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">c.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">In the event that the quorum of the
second GMS as meant in letter b above shall not be reached, the third GMS may
be held provided that the third GMS shall be valid and entitled to take
resolution if attended and/or represented by Independent Shareholders owning voting
rights in accordance with quorum determined by the Financial Service Authority
at the Company&#8217;s request.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The resolution of the third GMS shall be valid if
approved by Independent Shareholders representing more than 50% (fifty percent)
of total shares owned by Independent Shareholders present at the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">d.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The shareholders with conflict of
interest shall be deemed to give resolution similar to resolution approved by
the Independent Shareholders not having conflict of interest.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">9.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Anything proposed by the shareholders
during the discussion or voting at the GMS shall fulfill the following
conditions:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">On the chairperson of GMS&#8217; opinion,
such matter is directly related to one of the agenda of meeting;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Such matters shall be submitted by
one shareholder or more jointly owning at least 1/20 (one twentieth) of total
voting shares; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">c.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">On the Board of Directors&#8217; opinion,
such proposal is deemed to be directly related to the Company&#8217;s business.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;text-transform:uppercase;">BOARD OF DIRECTORS</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;"> 16</font></b><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">1.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">a.&#160;&#160;&#160;&#160; Company&#8217;s management shall
be conducted by the Board of Directors under supervision of the Board of Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">b.&#160;&#160;&#160;&#160; Board of Directors
shall at least consist of 3 (three) Directors with the following composition</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">:&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:63.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">1)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">One President Director</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:63.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">2)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">One Vice President Director (if
appointed); and</font></p>

<p style="margin-bottom:.0001pt;margin-left:63.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">3)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">One or more Directors.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">2.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">a. &#160;&#160;&#160; Those who may serve as
Directors shall be individual persons at the time of appointment and during the
service:</font></p>

<p style="margin-bottom:.0001pt;margin-left:63.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Of Indonesian nationality;</font></p>

<p style="margin-bottom:.0001pt;margin-left:63.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Having great characters, moral, and
integrity;</font></p>

<p style="margin-bottom:.0001pt;margin-left:63.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">3)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Capable to perform legal action; </font></p>

<p style="margin-bottom:.0001pt;margin-left:63.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">4)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Within 5 (five) years before the
appointment and during the service:</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;">a)</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">never been declared insolvent;</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;">b)</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">never been the member of Board of Directors and/or
Board of Commissioners declared guilty in causing insolvency of a Company or
Public Company;</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;">c)</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">never been punished due to criminal act inflicting loss
to state and/or StateOwned Enterprise financial and/or related to financial
sector;</font><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;"> or</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;">d)</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">never been become the member of Board of Directors
and/or Board of Commissioners that during the service:</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">(1)</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Was once never holding the Annual GMS; </font></p>

<p style="margin-bottom:.0001pt;margin-left:1.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">(2)</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">His responsibility as Director and/or Commissioner was
once not accepted by the GMS or was once never giving responsibility report as
Director or Commissioner to the GMS; and</font><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">(3)</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Was once causing the company obtaining, consent,
approval, or registration from the Financial Service Authority not fulfilling
the obligation of annual report and/or financial report submission to the
Financial Service Authority.</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">6)&#160;&#160;&#160; Having commitment to
observe regulations of law; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">5)&#160;&#160;&#160; Having knowledge and/or
expertise in the field required by the Company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">b.&#160;&#160;&#160;&#160; The fulfillment of
requirements shall be contained in statement letter signed by candidate
Director and such letter shall be submitted to the Company. Such letter shall
be examined and documented by the Company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:5.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">3.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">a.&#160;&#160;&#160;&#160; The nomination of Director
not fulfilling requirements as meant in paragraph 2 above, whether before thenomination
or during service; shall be void at law since the other Directors or Board of Commissioners
found out the non-fulfillment of requirements (hereinafter referred to as &#8220;</font><b><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Nullification
of Nomination of Director</font></b><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">&#8221;).&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">b.&#160;&#160;&#160;&#160; Within no later than 2
(two) days commencing as of the nomination of non-qualified Director as meant
in paragraph 2 above, the other Directors or Board of Commissioners shall
announce the nullification of nomination of the concerned Director on
announcement media as meant in Article 13 paragraph 8 and shall notify the
Minister of Law and Human Rights to be recorded in Company register.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">c.&#160;&#160;&#160;&#160; Legal action made for
and on behalf of the Company by non-qualified Director as meant in paragraph 2
above before the Nullification of Nomination of Director shall be binding and
responsibility of the Company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">d.&#160;&#160;&#160;&#160; Legal action made for
and on behalf of the Company by non-qualified Director as meant in paragraph 2
above after the Nullification of Nomination of Director shall be invalid and
shall be responsibility of the concerned Director.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">e.&#160;&#160;&#160;&#160; The Company shall hold
the GMS to replace the non-qualified Director no later than 90 (ninety) days
since the Nullification of Nomination of Director. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">4.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Other than fulfilling requirements
as meant in paragraph 2 of this Article, the Director shall be nominated by
considering expertise, experience, and other requirements pursuant to regulations
of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">5.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Other than requirements mentioned
in paragraph 2 of this Article, among the Directors and between the Director
and Commissioner shall not be in family relationship until the third degree,
whether in straight line or lateral line, or relationship emerged due to
marriage (in-laws).</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">In the event of situation as meant above, the GMS shall
be authorized to terminate one of them.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">6.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">a.&#160;&#160;&#160;&#160; The Directors shall be
nominated by the GMS from the candidates proposed by the Series A Preferred
Shareholder and have been through nomination process pursuant to regulations of
law and such nomination shall bind the GMS;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">b.&#160;&#160;&#160;&#160; The Directors shall be
nominated and removed by the GMS, and at such GMS shall be present and/or
represented by Series A Preferred Shareholder and Shareholders owning at least
&#189; (A half) of total voting shares cast validly at the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">7.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">a.&#160;&#160;&#160;&#160; The office term of Director
shall be 5 (five) years commencing as of the conclusion of the GMS nominating
him or since other time as set out by the GMS and shall be expired on the
conclusion of the Annual GMS held at the end of the said office term provided
that not exceeding 5 (five) years. The provision of above paragraph shall not
reduce the right of the GMS to terminate Director at anytime prior to the
expiration of office term with providing reason. Such termination shall apply
since the conclusion of the GMS resolving such termination, unless provided otherwise
by the GMS. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">b.&#160;&#160;&#160;&#160; Following its
expiration, the Director nay be reappointed consecutively only for 1 (one)
office term by the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">8.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The reason of termination as meant
above shall be if the Director:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">a.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Cannot fulfill its obligation as agreed in management
contract</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">b.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Cannot exercise its duty well</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">c.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Not implementing provision of
regulations of law and/or provisions of Articles of Association</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">d.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Involved in action inflicting loss to the Company
and/or State</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">e.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Declared guilty with court&#8217;s
decision having permanent legal force</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">f.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Has submitted resignation
application.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">9.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Other than reason of terminating
Director as meant in paragraph 8 above, Director may be terminated by the GMS
on the basis of other reason deemed proper by the GMS for the benefit and
purpose of the Company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">10.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The planned termination of Director
as meant in paragraph 9 above shall be notified by Series A Preferred
Shareholder to the concerned Director verbally or in writing no later than 14
(fourteen) days prior to the date of the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">11.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Resolution for termination as meant
in paragraph 8 letters a, b, c, and d and paragraph 9 of this Article shall be
taken after the concerned party has been given opportunity to defend at the
GMS. Such termination shall apply since the conclusion of the GMS resolving
such termination.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">12.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">If due to any reason whatsoever the
Director position shall be vacant, such vacancy shall be occupied no later than
at the next GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">During such vacancy and not replaced or the replacement
not occupy such vacancy, the other Director set out by meeting of the Board of
Directors&#8217; resolution shall perform the vacated Director&#8217;s duty with similar
power and authority.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">13.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">a.&#160;&#160;&#160;&#160; In the event that due to any
reason the Company&#8217;s Director position shall be vacant resulting in the total
Directors less than 2 (two) or no President Director, then no later than 90
(ninety) days &#160; since such vacancy, GMS shall be held to occupy such vacated
Director&#8217;s position.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">In the event that all Directors&#8217;
position are vacated and the GMS has not occupied such vacated position as
meant in this paragraph, the Company shall be temporarily managed by the Board
of Commissioners, with similar power and authority.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:5.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">14.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">a.&#160;&#160;&#160;&#160; Director may be suspended by
the Board of Commissioners with providing reason.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">b.&#160;&#160;&#160;&#160; The reason for
suspending such Director shall be if the Director acts against these Articles
of Association or indicated act inflicting loss to the Company or neglecting
obligation or other urgent reason for the Company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">c.&#160;&#160;&#160;&#160; The resolution of
Board of Commissioners on suspension of Board of Directors shall be made in
accordance with procedure of taking resolution at the meeting of the Board of
Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">d.&#160;&#160;&#160;&#160; Such suspension shall
be notified in writing, no later than 2 (two) days since the resolution of such
suspension to the concerned Director with providing reason of such action
whereas the copies thereof shall be delivered to the Board of Directors.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">e.&#160;&#160;&#160;&#160; No later than 90
(ninety) days since the date of suspension, the Board of Commissioners shall be
obliged to hold the GMS resolving the revocation or reinforcement of suspension
resolution, whereas the suspended Director shall be given opportunity to attend
the meeting to defend.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">f.&#160;&#160;&#160;&#160; With the lapse of time
to hold the GMS as meant in letter e above, the GMS may not take resolution or
the GMS shall revoke such suspension, such suspension shall be void.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">g.&#160;&#160;&#160;&#160; The GMS as meant in
letter e above shall be chaired by one Shareholder elected among and from the
shareholders and/or representatives/proxies attending the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">h.&#160;&#160;&#160;&#160; In the event that the
GMS reinforcing suspension, the concerned Director shall be permanently terminated.
</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">i.&#160;&#160;&#160;&#160;&#160; The suspension shall
not be extended or reinstated with the same reason, if the suspension has been
declared void as meant in letter f above.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">j.&#160;&#160;&#160;&#160;&#160; In the event of
situation as meant in letter f above, the concerned Director shall reassume its
duty as before.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">k.&#160;&#160;&#160;&#160; The Company shall be
obliged to make information transparency announcement to the public and submit
to Financial Service Authority regarding:</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Suspension resolution; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Result of the GMS or information on
the voidance of suspension by the Board of Commissioners because of not holding
GMS or failure of the GMS to take resolution until the lapse of period no later
than 2 (two) days since the occurrence of such event.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">15.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">a.&#160;&#160;&#160;&#160; A Director may resign from
its office by giving written notification on such intention to the Company&#8217;s
Board of Directors with copies to be delivered to Series A Preferred
Shareholder, Board of Commissioners, and other Directors.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">b.&#160;&#160;&#160;&#160; The Company shall hold
the GMS to resolve resignation application of Director as meant in letter a of
this paragraph no later than 90 (ninety) days since the receipt of resignation
application.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">c.&#160;&#160;&#160;&#160; The Company shall be
obliged to make information transparency announcement to the public and submit
to Financial Service Authority no later than 2 (two) business days since the
receipt of resignation application of Director as meant in letter a of this
paragraph and result of the GMS as meant in letter b of this paragraph.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">d.&#160;&#160;&#160;&#160; In the event that the
Director resignation resulting in the total of Directors to be less than 2
(two), such resignation shall be valid if stipulated by the GMS and the new
Director has been appointed to fulfill the minimum requirement of total
Directors.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">16.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">For resigning Director or whose
nomination void at law as meant in paragraph 3 of this Article either during
the service or after the expiration of the office, the concerned Director shall
be demanded for responsibility on the actions not reported to the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">17.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">a.&#160;&#160;&#160;&#160; The Directors shall be given
salary and other allowance, including post service insurance which amount to &#160; be
determined pursuant to resolution of the GMS and such authority by the GMS may be
delegated to the Board of Commissioners to be stipulated pursuant to meeting of
the Board of Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">b.&#160;&#160;&#160;&#160; Any Director shall be
prohibited to take personal benefit directly or indirectly from the Company&#8217;s
activities other than legal income as stipulated by the GMS as meant in letter
a above.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">18.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The office of the Director shall be
automatically expired if:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=NO-BOK style="font-size:9.5pt;line-height:normal;">a.</font><font face="times new roman" lang=NO-BOK style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=NO-BOK style="font-size:9.5pt;line-height:normal;">He dies;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=DE style="font-size:9.5pt;line-height:normal;">b.</font><font face="times new roman" lang=DE style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=DE style="font-size:9.5pt;line-height:normal;">His office term is expired;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=DE style="font-size:9.5pt;line-height:normal;">c.</font><font face="times new roman" lang=DE style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=DE style="font-size:9.5pt;line-height:normal;">Terminated pursuant to
resolution of the GMS;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">d.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=DE style="font-size:9.5pt;line-height:normal;">No longer meets
requirements as Director pursuant to provisions of Articles of Association and
regulations of law; except no longer meets requirement as meant in paragraph 2
letter a of this Article.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">19.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Provision as meant in paragraph 18
letter d above shall include but not limited to prohibited double position.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">20.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The Directors shall not take double
position as mentioned below:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">a.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Director in other State-Owned Enterprise,
Regional-Owned Enterprise, or private company or other position managing the
company;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">b.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Commissioner/Supervisor in State-Owned Enterprise;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">c.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Other structural and functional in
central or regional institution;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">d.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Other position in accordance with provisions in
regulations of law manager in political party and/or candidate/legislative
member and or candidate/district head/vice district head; and or</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">-&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">e.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Other position causing conflict of
interest directly or indirectly with the Company and/or against the regulations
of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:5.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=NL style="font-size:9.5pt;line-height:normal;text-transform:uppercase;">DUTIES AND AUTHORITIES OF BOARD OF DIRECTORS</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=NL style="font-size:9.5pt;line-height:normal;">Article
17</font></b><font face="Times New Roman" lang=NL style="font-size:9.5pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">1.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The Board of Directors shall run all actions related to
Company&#8217;s management for the Company&#8217;s interest and pursuant to Company&#8217;s
purpose and objective.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">2.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Any Director shall be entitled and authorized to act
for and on behalf of the Board of Directors and represent the Company inside
and outside the Court on anything and in any occurrence, bind the Company with
other party and other party with the Company, and conduct all action regarding
management and ownership with limitation as set out in paragraph 7 of this
Article and by paying attention to regulations of law on Capital Market in
Indonesia.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">3.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Any Director shall be obliged to
exercise duties and responsibilities by observing Articles of Association and
regulations of law, in good faith, full responsibility, and implement the
principles of professionalism, efficiency, transparency, independency,
accountability, responsibility, and fairness.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">4.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Board of Directors shall be obliged to provide reports
and explanations on matters related to Company if requested in writing by
Series A Preferred Shareholder by paying attention to regulations of law
including regulations of law on Capital Market.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">5.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Any Director shall be fully severally liable to
Company&#8217;s loss caused by the Director&#8217;s mistake or negligence in exercising his
duties.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">However, the Director shall not be liable to Company&#8217;s
loss if he can prove that:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">a.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">such loss not caused by his mistake or negligence;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">b.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">has performed management in good faith and carefulness
for Company&#8217;s interest and pursuant to Company&#8217;s purpose and objective;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">c.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">having no conflict of interest directly or indirectly
on the management inflicting loss; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">d.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">has taken action to prevent the occurrence or
continuance of such loss.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">6.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Director shall not be authorized to represent the
Company if</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">:&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">a.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">involved in case in Court between the Company and the
concerned Director; or</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">b.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">the concerned Director has conflict of interest with
the Company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">7.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Board of Directors&#8217; action shall
obtain written approval from the Board of Commissioners in:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">a.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Participating capital or releasing the participation of
capital in other business entity not performed via stock exchange with amount
exceeding as determined in resolution of Board of Commissioners;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">b.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Establishing, merging, amalgamating, taking over,
spinning-off, and dissolving subsidiary having financial consequence exceeding
certain amount as determined in resolution of Board of Commissioners;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">c.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Assigning, exchanging, selling or
buying business segment having financial consequence exceeding certain ampunt
as determined in resolution of Board of Commissioners;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">d.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Entering into license and/or cooperation agreement,
regarding requirements and provisions as well as type of license and/or
cooperation agreement requiring approval from the Board of Commissioners shall
be regulated further in the resolution of Board of Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">e.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Assigning fixed and other assets of
the Company with exceeding certain amount as determined in resolution of Board
of Commissioners;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">f.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Forgiving bad receivables and
unproductive stocks exceeding certain amount as determined in resolution of
Board of Commissioners;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">g.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Forgiving fixed assets in certain
condition as determined by resolution of Board of Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">h.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Binding the Company as guarantor (</font><i><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">borg&nbsp;</font></i><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;"> or </font><i><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">avalist</font></i><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">)
having financial consequence exceeding certain amount as determined in
resolution of Board of Commissioners;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">i.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Accepting or giving short term loan
(less than 1 (one) year) of non-operational nature exceeding certain amount as
determined in working plan and budge of Company validated in resolution of
Board of Commissioners;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">j.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Accepting or giving medium/long
term loan (more than 1 (one) year) exceeding certain amount as determined in
working plan and budget of Company validated in resolution of Board of
Commissioners; </font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">k.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Nominating Director and/or Commissioner to the
subsidiaries:</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;">(i)&#160;&#160;&#160; whose
financial report consolidated with the Company; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;">(ii)&#160;&#160; giving income
contribution of at least 30% (thirty percent) of total Company&#8217;s consolidated
income.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;">Approval of Board of Commissioners particularly
related to letter k shall be pursuant to meeting of Board of Commissioners and
approval of Series A Preferred Shareholder.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Such written approval shall be contained in form of
resolution of Board of Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">8.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The Board of Directors&#8217; actions as
meant in paragraph 7 letter a to letter j above shall be with prior approval of
the GMS in the event that the amount of investment/divestment to be made by the
Company is material, which is fulfilling provisions and requirements as set out
in capital market regulation. In the event of transaction to be implemented not
reaching material value as set out in capital market regulation, but will
significantly affect the Company&#8217;s main business activities, in terms of
operational, financial, or commercial, the Board of Directors and/or Board of
Commissioners may propose to be resolved at the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">9.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In performing legal action to:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Assign or release the rights of
Company&#8217;s assets in whole or in part with amount exceeding 50% (fifty percent)
of Company&#8217;s total net asset, either in one transaction or several transaction,
independent or related to each other in one fiscal year; or</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Collateralize Company&#8217;s asset in
whole or in part so that the collateralized Company&#8217;s asset within certain
period shall exceed 50% (fifty percent) of Company&#8217;s total net asset.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors shall obtain approval from the
GMS and at such GMS shall be attended or represented by shareholders owning at
least &#190; (three quarter) of total voting shares and approved by at least &#190;
I(three quarter) of total shares cast at the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that at the GMS above the determined
quorum shall not be re</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">hed</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, then at the earliest period of 10 (ten) days and at
then latest period of 21 (twenty one) days since the first GMS, the second GMS
may be held with the same agenda as the first GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The notice for the GMS shall be made no later than 7
(seven) days prior to the second GMS, without calculating the date of Notice
for tne GMS and date of the GMS, and for such Notice for tne GMS shall not
require prior Announcement of the GMS and the second GMS shall be attended or
represented by shareholders owning at least 2/3 (two third) of total voting
shares and approved by at least &#190; (three quarter) of total votes cast at the
GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that the quorum at the second GMS shall
not be reached, then at the request of the Company the third GMS may be held
with the requirements of quorum, requirements of Notice for the GMS, and time to
hold the GMS shall be determined by the Financial Service Authority.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Notice for the third GMS shall mention that the
second GMS was held without reaching quorum.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The resolution of the third GMS shall be valid if
agreed by shareholders on the basis of requirements to take resolution as set
out by such Financial Service Authority.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">10.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Without reducing responsibility, the Board of
Directors for certain action shall also be entitled to appoint one or more
persons as proxies with the requirements determined by the Board of Directors
in a special power of attorney, such authority shall be exercised pursuant to
Articles of Association.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">11.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The distribution of duties and authorities of Director
shall be decided in accordance with Resolution of the GMS and in the event that
the GMS shall not decide, the distribution of duties and authorities of
Directors shall be decided pursuant to the resolution of meeting of the Board
of Directors.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">12.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors in managing and/or
administering Company shall implement the resolution of the GMS and the Board
of Commissioners so long not against regulations of law and/or these Articles
of Association.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">MEETING OF THE BOARD OF DIRECTORS</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">Article
18 </font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">a.&#160;&#160;&#160;&#160; The meeting of the Board of Directors
shall be held periodically at least once in a month or at anytime deemed
necessary at the request of one or more Directors or request of meeting of the
Board of Commissioners or written request of 1 (one) or more shareholders
jointly representing 1/10 (one tenth) or more of total voting shares.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">b.&#160;&#160;&#160;&#160; The Board of
Directors shall be obliged to hold meeting of the Board of Directors together
with the Board of Commissioners periodically at least once in 4 (four) months.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">2.</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">The notice of the meeting of the Board of
Directors shall be made by the Director entitled to represent the Board of
Directors pursuant to provision of Article 17 paragraph 2 of these Articles of
Association.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">3.</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">The notice for the meeting of Board of
Directors shall be made by registered mail or by letter directly delivered to
each Director with receiving receipt or by facsimile or other electronic media
no later than 3 (three) days before the meeting, without calculating the date
of notice and date of meeting, together with meeting material.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">In the event of urgent discussion, such period
of notice may be shortened into no later than 1 (one) day without calculating
date of notice and date of meeting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">4.</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">The notice for the meeting shall mention
agenda, date, time, and place of the meeting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">5.</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">a.&#160;&#160;&#160;&#160; The meeting of Board of Directors may
be held at the Company&#8217;s domicile or main business location.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If
all Directors present or represented, such prior notice shall not be required
and the meeting of Board of Directors may be held anywhere within the territory
of the Republic of Indonesia and such meeting shall be entitled to take valid
and binding resolution.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">b.&#160;&#160;&#160;&#160; The meeting
of Board of Directors as meant in letter a may be held through video conference
network or other electronic media enabling all participants to see and listen
to each other directly and participate in meeting and related to such matter,
all participants shall be deemed present to determine the quorum and voting or
resolution.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">Minutes of meeting held by video conference
network or other electronic media shall be made in writing and circulated to
all participating Directors to be agreed and signed.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">6.</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">The meeting of Board of Directors shall be
chaired by President Director, in the event that the President Director shall
be absent or unable to attend due to any reason whatsoever not required to be
proved to the third party, the meeting of Board of Directors shall be chaired
by Vice President Director, in the event that the Vice President Director shall
be absent or unable to attend due to any reason whatsoever not required to be
proved to the Third Party, or in the event that the Vice President Director
shall not be appointed, the meeting of Board of Directors shall be chaired by
another Director appointed by the meeting of Board of Directors.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">7.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">A Director may be represented at the meeting of Board
of Directors only by other Director on the basis of power of attorney
specifically given for such requirement.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">8.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">A Director may only represent one other Director.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">9.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In other agenda, the meeting of Board of Directprs
shall not be entitled to take resolution unless all Directors or their lawful
proxies shall attenjd and agree to additional meeting agenda and approve the
resolution on additional agenda of meeting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">10.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Meeting of Board of Directors shall be valid and
entitled to take valid and binding resolution if more than &#189; (a half) of total
Directors present or represented validly at the meeting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">11.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Resolution of meeting of Board of Directors shall be
made through deliberation to reach consensus.</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">-&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that resolution based on deliberation
shall not be reached, the resolution shall be taken through voting on the basis
of majority affirmative votes from total votes at the meeting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">12.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event of equal votes, the Chairperson of
Meeting shall be entitled for final vote by paying attention to provision on
responsibility as meant in Article 17 paragraph 5.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">13.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Any
present Director shall be entitled to cast 1 (one) vote and additional 1 (one)
vote for any other Director represented.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.&#160;&#160;&#160;&#160; Voting regarding
individual person shall be made by closed ballot without signature, while the
voting regarding other things shall be made orally unless Chairperson of
Meeting stated otherwise without any objection from the participants.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c.&#160;&#160;&#160;&#160; Any Director present
or represented at the meeting shall be obliged to give vote.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; In the event that Director not giving vote
(abstain) such Director shall follow and be responsible on the resolution of
meeting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">d.&#160;&#160;&#160;&#160; Invalid vote shall be
deemed not to cast validly and deemed not exist and not calculated in determining
total votes.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">14.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">At meeting of the Board of Directors shall be made
minutes containing discussed agenda (including dissenting opinion from the
Directors, if any) and the resolved things.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">15.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Minutes of meeting as meant in paragraph 14 above
shall be signed by Chairperson of Meeting and all Directors present at the
meeting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">16.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors may also
take valid resolution without holding meeting of the Board of Directors,
provided that all Directors have given written approval by signing the
proposal.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The resolution made this way shall have equal power to
that taken validly at the meeting of Board of Directors.</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">BOARD OF COMMISSIONERS</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;"> &nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 19</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160;&#160; Board of
Commissioners shall at least consist of 2 (two) Commissioners, one of them
shall be appointed as President Commissioner.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.&#160;&#160;&#160;&#160; Board of
Commissioners shall be council and any Commissioner shall not act independently
rather on the basis of resolution of meeting of Board of Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c.&#160;&#160;&#160;&#160; The Company shall
have Independent Commissioner fulfilling requirements pursuant to regulations
of law on Capital Market in Indonesia.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Provision regarding requirements and fulfillment of
requirements to be Director as meant in Article 16 paragraph 2 shall mutatis
mutandis apply to the Board of Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other than fulfilling criteria as meant in paragraph 2
above, the appointment of Board of Commissioners shall be made by considering
integrity, dedication, comprehension on company management issue related to one
of management functions, having sufficient knowledge in field of Company&#8217;s
business and providing proper time to exercise its duties and other
requirements pursuant to regulations of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Consequence of appointing non-qualified Director as
meant in Article 16 paragraph 3 shall mutatis mutandis apply to the appointment
of non-qualified Commissioner as meant in paragraph 2 of this Article.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Commissioner shall be appointed from Indonesian
Nationality fulfilling requirements pursuant to regulations of law. Among the
Commissioners and between the Commissioner and Director shall not be in family
relationship until the third degree, whether in straight line or lateral line,
or relationship emerged due to marriage (in-laws).</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event of situation as meant above, the GMS
shall be authorized to terminate one of them.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">6.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The appointment of all
Commissioners shall not be concurrent with the appointment of all Directors.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">7.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Commissioners shall be nominated by the GMS from
the candidates proposed by the Series A Preferred Shareholder. Such nomination
shall bind the GMS;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Commissioners shall be nominated and removed by
the GMS, and at such GMS shall be present and/or represented by Series A
Preferred Shareholder and Shareholders owning at least &#189; (a half) of total
voting shares issued by the Company and such resolution of GMS shall be
approved by the Series A Preferred Shareholder and Shareholders owning at least
&#189; (a half) of total votes cast validly at the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">8.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The office term of Commissioner shall be 5 (five)
years commencing as of the conclusion of the GMS nominating him or since other
time as set out by the GMS and shall be expired on the conclusion of the Annual
GMS held at the end of the said office term provided that not exceeding 5
(five) years. The provision of above paragraph shall not reduce the right of
the GMS to terminate Director at anytime prior to the expiration of office term
with providing reason. Such termination shall apply since the conclusion of the
GMS resolving such termination, unless provided otherwise by the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">9.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Provision
on Commissioner&#8217;s office terms shall not reduce the GMS right to terminate such
Commissioner  at anytime prior to the expiration of its office term. Such
termination may be made if the concerned Commissioner:</font></p>

<p style="margin-bottom:.0001pt;margin-left:81.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1)</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;"> &nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160; Cannot exercise its duty well</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:81.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2)</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;"> &nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160; Violating provision of Articles of Association and/or regulations
of law;</font></p>

<p style="margin-bottom:.0001pt;margin-left:81.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3)</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;"> &nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160; Involved in action inflicting loss to State-Owned Enterprise and/or
State</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:81.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">4)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">
&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160; Performed action violating
ethics and/or morale should to be respected as Commissioner of State-Owned
Enterprise</font></p>

<p style="margin-bottom:.0001pt;margin-left:81.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">5)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">
&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160; Declared guilty with court&#8217;s
decision having permanent legal force</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">;&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> or</font></p>

<p style="margin-bottom:.0001pt;margin-left:81.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">6)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">
&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160; Resigned.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.&#160;&#160;&#160;&#160; Other than reason of terminating Commissioner as meant
in letter a above, Commissioner may be terminated by the GMS on the basis of
other reason deemed proper by the GMS for the benefit and purpose of the
Company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">10.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The planned termination of Commissioner shall be
notified by Series A Preferred Shareholder to the concerned Commissioner
verbally or in writing no later than 14 (fourteen) days prior to the date of
the GMS</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">11.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Such terminated Commissioner shall
be given opportunity to attend at the GMS to defend. Such termination shall
apply since the conclusion of the GMS resolving such termination.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">12.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Upon the expiration of office term, Com</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">missi</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">o</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ner&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> may
be reappointed only for 1 (one) other term by the GMS.</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">13.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a.&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160;&#160; The Commissioner shall be given salary and/or
allowance, including post service insurance which amount to be determined by
the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.&#160;&#160;&#160;&#160; Any Commissioner
shall be prohibited to take personal benefit directly or indirectly from the
Company&#8217;s activities other than legal income as stipulated by the GMS as meant
in letter a of this paragraph.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">14.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Commissioner shall not take double position as
mentioned below:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Director in State-Owned Enterprise, Regional-Owned
Enterprise, or Private Owned Enterprise;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Commissioner and/or Supervision in State-Owned
Enterprise, except in order for supervising State-Owned Enterprise in health
program on the basis of special appointment from the authority;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other position in accordance with
provisions in regulations of law, manager in political party and/or
candidate/legislative member and or candidate/district head/vice district head;
and or</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">-&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other position causing conflict of interest</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">15.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that due to any reason the Company&#8217;s Commissioner
position shall be vacant resulting in the total Commissioners less than 2 (two)
or no President Com</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">missioner</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">, then no later than 90 (ninety) days since such
vacancy, GMS shall be held to occupy such vacated Commissioner&#8217;s position.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">16.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160;&#160; Provision
on Director resignation as meant in Article 16 paragraph 15 letters a, b, and c
shall mutatis mutandis apply to Commissioner.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.&#160;&#160;&#160;&#160; In the event that the
Commissioner resignation resulting in the total of Commissioners to be less
than 2 (two), such resignation shall be valid if stipulated by the GMS and the
new Commissioner has been appointed to fulfill the minimum requirement of total
Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">17.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The office of the Commissioner shall be automatically
expired if</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">:&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=NO-BOK style="font-size:10.0pt;line-height:normal;">He dies;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=DE style="font-size:10.0pt;line-height:normal;">His office term is expired;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=DE style="font-size:10.0pt;line-height:normal;">Terminated pursuant to
resolution of the GMS;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=DE style="font-size:10.0pt;line-height:normal;">No longer meets requirements as Commissioner
pursuant to provisions of Articles of Association and regulations of law;
except no longer meets requirement as meant in paragraph 2 of this Article.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;text-transform:uppercase;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">DUTIES AND AUTHORITIES OF BOARD OF COMMISSIONERS</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 20</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160;&#160; The Board of Commissioners shall</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">:&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">supervise the Company&#8217;s management policy performed by
the Board of Directors, advise the Board of Directors including on Company&#8217;s development
plan, Company&#8217;s annual working plan and budget, implementation of Company&#8217;s
Articles of Association and resolution of the GMS as well as regulations of law
by paying attention to Company&#8217;s interest.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">b.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">exercise the duties, authorities, and responsibilities
pursuant to provisions of Articles of Association and resolution of the GMS;</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">-&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">c.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">examine and review the annual report prepared by the
Board of Directors and sign such annual report.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In respect of Board of Commissioners&#8217; duties as meant
in paragraph 1 above, the Board of Commissioners shall be obliged to:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">give opinion and advice to the GMS related to the
Board of Directors&#8217; report; including the Annual GMS regarding periodical
reports from the Board of Directors;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">b.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">supervise the implementation of Company&#8217;s working plan
and budget (including investment budget) for the previous fiscal year and
deliver the evaluation result and opinion to the Annual GMS;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">c.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">follow the development of Company&#8217;s activities and in
the event that the Company shows deterioration trend, immediately request the
Board of Directors to announce to the shareholders and advise the improvement
measures;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">d.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">give opinion and suggestion to the GMS on any other
matters deemed important for the Company&#8217;s management;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">e.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">propose to the GMS, through the Board of Directors,
the appointment of public accountant office to audit the Company&#8217;s financial
report including internal control audit on financial report, in accordance with
applicable provisions from the Capital Market authority where the Company&#8217;s
shares registered and/or listed;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">f.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">provide report on supervision duties performed during
the previous fiscal year to the GMS;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">g.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">conduct other supervision duties as assigned by the
GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">h.&#160;&#160;&#160;&#160; in particular
situation, the Board of Com</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">missi</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">on</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">ers&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> shall be obliged to hold the Annual GMS and the other
GMS pursuant to its authority as set out in Articles of Association and
regulations of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Each Commissioner shall be fully severally liable on
the Company&#8217;s loss caused by Commissioner&#8217;s fault or negligence in performing
duties</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">However, the Com</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">missioner&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> shall not be liable to
Company&#8217;s loss if he can prove that</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">:&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">such loss not caused by his mistake or negligence; </font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">has
performed supervision in good faith and carefulness for Company&#8217;s interest and
pursuant to Company&#8217;s purpose and objective;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">having no
conflict of interest directly or indirectly on the Board of Directors
management inflicting loss;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">d</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">has taken
action to prevent the occurrence or continuance of such loss.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Commissioners jointly or severally at anytime
shall be during Company&#8217;s office hours entitled to enter building and premise
or other places utilized or controlled by the Company and entitled to examine
and check cash condition (for verification purpose) and other securities and
entitled to realize all actions performed by the Board of Directors.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In order to perform the duties, Board of Commissioners
may request assistance of experts for limited time and establish Committee
required pursuant to the needs or regulations of law and at the Company&#8217;s
expense.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Distribution of job among the Commissioners shall be
regulated by themselves and to facilitate the duties, the Board of
Commissioners may be assisted by a secretary appointed by the Board of
Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">7.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Board of Directors or each Director shall be obliged
to provide explanation on anything asked by the Com</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">missioners&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> or
assisting experts.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">8.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Commissioners may suspend Commissioner
with providing reason, as set out in Article 16 paragraph 14.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">9.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Board of Commissioners and Board of Directors shall be
obliged to prepare guideline binding Directors and Commissioners, pursuant to
applicable regulations of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.&#160;&#160;&#160;&#160; Board of
Commissioners and Board of Directors shall be obliged to prepare ethical code applicable
to all Directors and Commissioners, employees/officers, and supporting organ
owned by the Company, pursuant to applicable regulations of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;text-transform:uppercase;">MEETING OF BOARD OF COMMISSIONERS</font></b><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;text-transform:uppercase;"> &nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Article </font></b><b><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">21&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">1.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">All resolutions of Board of Commissioners shall be
taken at the meeting of Board of Commissioners or by resolution outside the
meeting of Board of Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">2.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">a</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;">The meeting of the Board of </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Commissioners&nbsp;</font><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;"> shall be held periodically at least once in a month or at anytime
deemed necessary at the request of one or more Commissioners or request of
meeting of the Board of Directors or written request of 1 (one) or more
shareholders jointly representing 1/10 (one tenth) or more of total voting
shares.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">b.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;">The Board of Commissioners shall be obliged to hold
meeting together with the Board of Directors periodically at least once in 4
(four) months.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">3.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;">The notice of the meeting of the Board of
Commissioners shall be delivered in writing by the President Commissioner or
Commissioner a</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">p</font><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;">pointed by President Commissioner</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">4.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;">The notice for the meeting of Board of
Commissioners shall be delivered to all Commissioners by registered mail or
directly delivered with receiving receipt or by facsimile or other electronic
media followed immediately with registered mail no later than 3 (three) days
and in the case of emergency, no later than 1 (one) day before the meeting,
without calculating the date of notice and date of meeting</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">5.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;">The Notice for the Meeting as meant in
paragraph 3 of this Article shall mention agenda, date, time, and place of the
meeting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">6.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;">The meeting of Board of Commissioners shall be
valid if held at the Company&#8217;s domicile or main business location within the
territory of the Republic of Indonesia.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">7.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The Meeting of Board of Commissioners held elsewhere
other than those mentioned in paragraph 5 of this Article shall be deemed valid
and entitled to take resolution if held within the territory of the Republic of
Indonesia and attended by all Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">8.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The notice for the meeting shall not be required if all
Commissioners are present and/or represented at the meeting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">9.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;">The meeting of Board of Commissioners may be
held through video conference network or other electronic media enabling all
participants to listen to each other and participate in meeting and related to
such matter, all participants shall be deemed present to determine the quorum
and voting or resolution.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">At the meeting of Board of Commissioner held through
video conference network or other similar communication means shall be made
minutes in writing and circulated to all present Commissioners to be examined
and agreed.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">10.&#160; </font><font face="Times New Roman" lang=SV style="font-size:9.5pt;line-height:normal;">The meeting of Board of Commissioners shall be
chaired by President Commissioner, in the event that the President Commissioner
shall be absent or unable to attend due to any reason whatsoever not required
to be proved to the third party, the meeting shall be chaired by another
Commissioner appointed by and among the present Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">11.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">A Commissioner may be represented at the meeting of
Board of Commissioners only by other Commissioner on the basis of power of
attorney specifically given for such purpose.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">12.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Meeting of Board of Commissioners shall be valid and
entitled to take binding resolution if more than &#189; (a half) of total Commissioners
present or represented at the meeting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">13.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Resolution of meeting of Board of Commissioners shall
be made through deliberation to reach consensus.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">14.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">In the event that resolution based on deliberation
shall not be reached, the resolution shall be taken through voting on the basis
of majority affirmative votes from total votes at the meeting. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">15</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">In the event of equal votes, the Chairperson of Meeting
shall be entitled for final vote by paying attention to provision on
responsibility as meant in Article 20 paragraph 3 hereof.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">16.  </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Any Commissioner shall be entitled to cast 1 (one) vote
and additional 1 (one) vote for any other Commissioner represented.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">17.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Voting regarding individual person shall be made by
closed ballot without signature, while the voting regarding other things shall
be made orally unless Chairperson of Meeting stated otherwise without any
objection from the participants.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">18.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Any Commissioner present or represented at the meeting
shall be obliged to give vote.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">In the event that Commissioner not giving vote
(abstain) such Commissioner shall follow and be responsible on the resolution
of meeting</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">19.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Invalid vote shall be deemed not to cast validly and
deemed not exist and not calculated in determining total votes at the meeting.</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">-&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">20.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">At meeting of the Board of Commissioners shall be made
minutes containing discussed agenda (including dissenting opinion from the
Commissioners, if any and the resolved things.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">21.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Minutes of meeting as meant in paragraph 20 above shall
be signed by Chairperson of Meeting and all Commissioners present and appointed
for such purpose at the meeting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">22.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">Resolution may also be taken outside the meeting of
Board of Commissioners, provided that all Commissioners have been notified the
proposed resolution and all Commissioners shall give approval by signing such
approval</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">. &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">The resolution made this way shall have equal power to
that taken validly at the meeting of Board of Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">23.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;">In other agenda, the meeting of Board of Commissioners
shall not be entitled to take resolution unless all Commissioners or their
lawful pro</font><font face="Times New Roman" lang=IN style="font-size:9.5pt;line-height:normal;">xies&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:9.5pt;line-height:normal;"> present and approve the additional meeting agenda.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">WORKING PLAN AND BUDGET OF THE COMPANY</font></b><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;text-transform:uppercase;"> &nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">Article
22</font></b><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors shall be obliged to prepare
Working Plan and Budget of the Company for each fiscal year containing at
least:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=FI style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">Mission, business target, business strategy,
company policy, and working program/activities;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;">Company&#8217;s Budget detailed on each working
program/activity;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=FI style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=FI style="font-size:10.0pt;line-height:normal;">Projected financial of
Company and subsidiaries;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">d.</font><font face="times new roman" lang=ES style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">Fixed assets utilization and/or release plan;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=NL style="font-size:10.0pt;line-height:normal;">e.</font><font face="times new roman" lang=NL style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=NL style="font-size:10.0pt;line-height:normal;">Annual Working Plan and
Budget of Board of Commissioners; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=NL style="font-size:10.0pt;line-height:normal;">f.</font><font face="times new roman" lang=NL style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=NL style="font-size:10.0pt;line-height:normal;">Other things pursuant to
applicable regulations including in Working Plan and Budget of the company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=NL style="font-size:10.0pt;line-height:normal;">2.</font><font face="times new roman" lang=NL style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=NL style="font-size:10.0pt;line-height:normal;">The Company&#8217;s Working Plan and Budget Draft
signed by all Directors shall be submitted by the Board of Directors to the
Board of Commissioners no later than 60 (sixty) days before the fiscal year of
such Company&#8217;s Working Plan and Budget to be approved by the Board of
Commissioners. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Company&#8217;s Working Plan and Budget Draft shall be
approved by the Commissioners no later than on December prior to the Company&#8217;s
fiscal year.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that Company&#8217;s Working Plan and Budget
shall bot be delivered by Board of Directors and/or Company&#8217;s Working Plan and
Budget shall not be approved within period as meant in paragraph 3 above, the
previous Company&#8217;s Working Plan and Budget shall apply.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors&#8217; action not set out in
Company&#8217;s Working Plan and Budget whose type and requirements as determined in
resolution of Board of Commissioners shall be approved first by the Board of
Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors shall prepare Company&#8217;s
business activities plan for the next 5 (five) years contained in Company&#8217;s
Long Term Plan (RJPP) and submitted to the Board of Commissioners for approval.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The change to Company&#8217;s Long Term Plan (RJPP) shall be
made by the Board of Directors pursuant to business development and/or
assumption change to be forwarded to Board of Commissioners for approval.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:6.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">FISCAL YEAR AND ANNUAL REPORT</font></b><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;text-transform:uppercase;"> &nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">Article 23</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">1.&#160;&#160;&#160;&#160; The
Company&#8217;s fiscal year shall be commenced from the 1st (first) day of January
and expired on the 31st (thirty first) day of December in the same year.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">At the end of December each year, the
Company&#8217;s book shall be closed.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors shall deliver annual report to
the GMS upon reviewed by the Board of Commissioners no later than 6 (six)
months after the conclusion of Company&#8217;s fiscal year, pursuant to regulations
of law, then signed by all Directors and Commissioners serving during such
fiscal year to be presented to and approved and validated by the Annual GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that any Director and Commissioner not
signing such annual report, the reason shall be provided in writing or the
reason shall be stated in separate letter attached to the annual report.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that any Director and Commissioner not
signing annual report as meant in paragraph 2 of this Article without providing
reason in writing, the concerned shall be deemed to approve the annual report.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The annual report audited by Public Accountant
registered with Financial Service Authority shall be made available at the
Company&#8217;s Office no later than on the date of Notice for the Annual GMS, to be
reviewed by shareholders.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Company shall be obliged to announce balance sheet
and profit loss report in 2 (two) daily nationally circulated Indonesian
newspapers within the territory of the Republic of Indonesia pursuant to
regulations of law on capital market and UUPT.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">7.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Annual Report as meant in paragraph 2 of this
Article shall contain at least:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Financial report consisting of final balance sheet of
previous fiscal year compared to further previous fiscal year, profit loss
report from the concerned fiscal year, cashflow report, and equity change
report, as well as records on such financial report;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">Report on Company&#8217;s activities;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">Report on the
implementation of Social and Environmental Responsibility and Partnership and
Environmental Development Program (if any);</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">d.</font><font face="times new roman" lang=SV style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">Detailed problem occurred during fiscal year
affecting the Company&#8217;s business activities;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">e. &#160;&#160;&#160; Report on
supervision performed by Board of Commissioners during the previous fiscal
year;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">f.&#160;&#160;&#160;&#160; Names of
Directors and Commissioners;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">g. &#160;&#160;&#160; Salary and
allowance/facility for the Directors and Commissioners of the Company for the
previous fiscal year.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">h.&#160;&#160;&#160;&#160; Attendance of
Directors and Commissioners at the meeting of Board of Directors and/or meeting
of Board of Commissioners; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">i.&#160;&#160;&#160;&#160;&#160; Other things
pursuant to regulations of law on Capital Market in Indonesia.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><font face="Times New Roman" lang=SV style="font-size:6.0pt;line-height:normal;text-transform:uppercase;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">REPORTING</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">Article
24</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=SV style="font-size:10.0pt;line-height:normal;">1.&#160;&#160;&#160;&#160; The Board of
Directors shall be obliged to prepare and deliver to the Board of Commissioners
periodiccal report containing the implementation of Company&#8217;s Working Plan and
Budget.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">2.&#160;&#160;&#160;&#160; Periodical
reports as meant in paragraph 1 above shall consist of monthly report,
quarterly report, and anual report.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">3.&#160;&#160;&#160;&#160; Other than
periodical reports as meant in paragraph 2 above, the Board of Directors may
also submit special report to the Board of Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">4.&#160;&#160;&#160;&#160; Periodical
reports and other report as meant in paragraphs 1 and 3 of this Article shall
be submitted in form, content, and arrangement pursuant to regulations of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">5.&#160;&#160;&#160;&#160; The Board of
Directors shall be obliged to deliver quarterly report to the Board of
Commissioners no later tan 30 (thirty) days since the end of such quarter.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">6.&#160;&#160;&#160;&#160; The quarterly
report as meant in paragraph 5 above shall be signed by all Directors.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">7.&#160;&#160;&#160;&#160; In the event
that any Director not signing quarterly report as meant in p</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">h</font><font face="Times New Roman" lang=ES style="font-size:10.0pt;line-height:normal;">aragraph
6 above, reason shall be provided in writing.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">UTILIZATION OF PROFIT</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;"> &nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article
</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">25&nbsp;</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors shall propose to the Annual GMS
on the utilization of Company&#8217;s net prof</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">i</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">t in a fiscal year as mentioned
in Financial Report validated by the Annual GMS, proposal which shall mention
amount of total net income not distributed to be utilized as reserve fund as
meant in Article 26 below, as well as proposal on the amount of dividend
possibly distributed, one and other without reducing the GMS right to resolve
otherwise.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that the Annual GMS not determining the
other utilization, the net profit less reserve fund as required by regulations
of law and Articles of Association shall be distributed as dividend.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Dividend as meant in paragraph 2 above shall only be
distributed if the Company has positive profit balance.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">Dividen</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">d
for one share shall be paid to the person whose name registered in the
Shareholder Register on the business day to be determined or pursuant to
resolution of the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event of resolution of GMS on cash dividend
distribution, the Company shall be obliged to distribute cash dividend no later
than 30 (thirty) days since the announcement of summary of Minutes of the GMS
resolving such distribution of cash dividend.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The day of payment shall be announced by the Board of
Directors to all shareholders.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article 13 paragraph 8 shall mutatis mutandis apply to
such announcement.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event of profit loss calculation in a fiscal
year indicates loss not covered by reserve fund, the loss shall be recorded and
included in profit loss calculation and in the next fiscal year the Company
shall be deemed to not having profit insofar the loss recorded and included in
profit loss calculation not completely covered, as such without reducing the
provision of regulations of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5.</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160;&#160; a</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Company may distribute interim dividend before the
conclusion of Company&#8217;s fiscal year pursuant to resolution of meeting of Board
of Directors with the approval of Board of Commissioners by paying attention to
projected profit and financial ability of the Company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the
event that after the expiration of fiscal year the Company shall suffer loss,
the distributed interim dividend shall be returned by the shareholders to the
Company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board
of Directors and Board of Commissioners shall be severally liable on the
Company&#8217;s loss, in the event that the shareholders cannot return the interim
dividend.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Company may give tantieme to Directors and
Commissioners as well as bonus for the employees if Company&#8217;s performance
improved as indicated by exceeding target to be achieved.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Such tantieme given to Directors and Commissioners as
well as bonus for employees insofar budgeted and calculated as cost.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">7.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that tantieme for Directors and
Commissioners as well as bonus for employees not budgeted and not calculated as
cost during ongoing year, the Company may give tantieme for Directors and
Commissioners as well as bonus for employees by utilizing net profit.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">8.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The profit distributed as dividend not taken within 5
(five) years after being made available for payment shall be included in
reserve fund specifically allocated for that.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The dividend in special reserve fund may be taken by
eligible shareholders before the expiration of 10 (ten) years period after
included in special reserve fund by submitting evidence of such right
acceptable to the Company&#8217;s Board of Directors. The dividend not taken upon the
expiration of such period shall be the Company&#8217;s property.</font></p>

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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">UTILIZATION OF RESERVE FUND</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">Article 26</font></b><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=ES-TRAD style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">Company having positive profit balance
shall allocate certain amount of net profit of each fiscal year to establish
mandatory reserve and other reserve.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Allocation of net profit for mandatory reserve as
meant in paragraph 1 above shall be made until the reserve has reached at least
20% (twenty percent) of total subscribed and deposited capital.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The mandatory reserve as meant in paragraph 1 of this
Article not reaching amount as meant in paragraph 2 above shall only be
utilized to cover Company&#8217;s loss uncoverable by other reserve.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">If the mandatory reserve as meant on paragraph 1 of
this Article has reached 20% (twenty percent), the GMS may resolve that the
amount exceeding 20% (twenty percent) of reserve fund to be utilized for
Company&#8217;s needs.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Portion of profit provided for other reserve shall be
decided by the GMS after considering the proposal form Board of Directors (if
any) and by paying attention to regulations of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors shall manage reserve fund to
obtain profit with manner deemed proper and with the approval of Board of
Commissioners and by paying attention to regulations of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Any interest and other benefit obtained from reserve
fund shall be included in the calculation of Company&#8217;s profit loss.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">AMENDMENT TO ARTICLES OF ASSOCIATION</font></b><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;text-transform:uppercase;"> &nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">Article 27</font></b><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=ES-TRAD style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">Amendment to Articles of Association
shall be set out by the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">2.&#160;&#160;&#160;&#160; The GMS
to amend Articles of Association may be held if the GMS atended and/or
represented by Series A Preferred Shareholder and other shareholders or their
lawful proxies jointly representing at least 2/3 (two third) of total voting
shares and the resolution shall be valid if approved by Series A Preferred
Shareholder and other shareholders or their lawful proxies jointly representing
more tan 2/3 (two third) of total votes at the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">3.&#160;&#160;&#160;&#160; The
amendment to Articles of Association shall be made with Notarial deed in
Indonesian.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The amendment to provisions of Articles of Association
regarding Company&#8217;s name and/or domicile, purpose, objective and business
activities, duration of Company, amount if authorized capital, decrease of
subscribed and deposited capital, and/or changing company&#8217;s status from closed
company to open company and vice versa, shall be with the approval of Minister
dealing with Law and Human Rights (hereinafter refe</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">r</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">red to as</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> &#8220;</font><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">M</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">inister</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&#8221;).&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Amendment to articles of association not contained in
Minutes of GMS made by notary shall be mentioned in notarial deed no later than
30 (thirty) days commencing as of the date of resolution of GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Application of approval on amendment to articles of
association and notification of amendment to articles of association shall be
submitted to the Minister no later than 30 (thirty) days commencing as of the
date of notarial deed containing amendment to articles of association and
registered in Company&#8217;s Register.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">7.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Amendment to Articles of Association other than
relating to matters mentioned in paragraph 4 of this Article shall be notified
by the Board of Directors to the Minister.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">8.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that attendance quorum as meant in
paragraph 2 of this Article shall not be reached, then at the earliest period
of 10 (ten) days and at then latest period of 21 (twenty one) days since the
first GMS, the second GMS may be held with the same agenda and requirements as
needed for the first GMS save for attendance quorum and the period of Notice
for the GMS shall be made no later than 7 (seven) days prior to the second GMS
without calculating the date of Notice for the GMS and date of the GMS and for
such Notice of the GMS shall not require Announcement of the GMS beforehand.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">9.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The second GMS as meant in paragraph 8 of this Article
shall be valid and entitled to take resolution if at the GMS attended and/or
represented by Series A Preferred Shareholder and other shareholders or their
lawful proxies jointly representing at least 3/5 (three fifth) of total voting
shares at the GMS and the resolution shall be valid if approved by Series A
Preferred Shareholder and other shareholders or their lawful proxies jointly
representing more than 2/3 (two third) of total valid votes at the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that the quorum for second GMS shall not
be reached, the third GMS may be held if fulfilled quorum requirements,
resolution taking requirements, Notice of the GMS requirements, and time to
hold the GMS as stipulated by the Financial Service Authority at the Company&#8217;s
request.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Notice for the third GMS shall mention that the
second GMS was held without reaching quorum.The resolution of the third GMS
shall be valid if agreed by shareholders on the basis of requirements to take
resolution as set out by such Financial Service Authority, provided that the
third GMS shall be attended by and the resolution shall be agreed by Series A
Preferred Shareholder.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">10.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Resolution on decreasing capital shall be notified in
writing to all Company&#8217;s creditors and announced by thye Board of Directors in
the State Gazette of the Republic of Indonesia and in media of Announcement of
GMS as regulated I&#160; Article 13 paragraph 8 above, no later than 7 (seven) days
since the date of resolution on capital decrease.</font></p>

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<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a href="#TOC"><b><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;line-height:normal;">Table of Contents</font></u></b></a></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">MERGER, AMALGAMATION, TAKING-OVER, SPIN-OFF</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 28</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">By paying attention to regulations of law on Capital
Market in Indonesia, the merger, amalgamation, taking-over, and spin-off shall
only be made on the basis of resolution of GMS attended and/or represented by
Series A Preferred Shareholder and other shareholders or their lawful proxies
jointly representing at least &#190; (three quarter) of total voting shares and the
resolution shall be agrred by Series A Preferred Shareholder and other
shareholders or their lawful proxies jointly representing more than &#190; (three
quarter) of total valid votes at the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that the quorum at the GMS as meant in
paragraph 1 above shall not be reached, then at the earliest period of 10 (ten)
days and at then latest period of 21 (twenty one) days since the first GMS, the
second GMS may be held with the same procedure as the first GMS. Notice for the
GMS shall be made no later than 7 (seven) days prior to the second GMS without
calculating the date of Notice for the GMS and date of the GMS and for such Notice
of the GMS shall not require Announcement of the GMS beforehand and the second
GMS shall be attended and/or represented by Series A Preferred Shareholder and
other shareholders or their lawful proxies jointly representing at least 2/3
(two third) of total voting shares and the resolution shall be agreed by Series
A Preferred Shareholder and other shareholders or their lawful proxies jointly
representing more than &#190; (three quarter) of total votes at the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that the quorum for second GMS shall not
be reached, the third GMS may be held if fulfilled quorum requirements,
resolution taking requirements, Notice of the GMS requirements, and time to
hold the GMS as stipulated by the Financial Service Authority at the Company&#8217;s
request.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Notice for the third GMS shall mention that the
second GMS was held without reaching quorum.The resolution of the third GMS
shall be valid if agreed by shareholders on the basis of requirements to take
resolution as set out by such Financial Service Authority, provided that the
third GMS shall be attended by and the resolution shall be agreed by Series A
Preferred Shareholder.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Board of Directors shall announce in media of
Announcement of the GMS as set out in Article 13 paragraph 8 above, on the
planned merger, amalgamation, taking-over, and spin-off of the company no later
than 30 (thirty) days prior to the Notice for the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The merger, amalgamation, spin-off, and legal entity
status change shall be made with Notarial deed in Indonesian.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">DISSOLUTION AND LIQUIDATIO</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 29</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">By paying attention to regulations of law, the
dissolution of Company shall only be made on the basis of resolution of GMS
attended and/or represented by Series A Preferred Shareholder and other
shareholders or their lawful proxies jointly representing at least &#190; (three
quarter) of total voting shares and the resolution shall be a</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">greed&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> by
Series A Preferred Shareholder and other shareholders or their lawful proxies
jointly representing more than &#190; (three quarter) of total valid votes at the
GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event that the quorum at the GMS as meant in
paragraph 1 above shall not be reached, then at the earliest period of 10 (ten)
days and at then latest period of 21 (twenty one) days since the first GMS, the
second GMS may be held with the same procedure as the first GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">3.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">a</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">. &#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Notice for the GMS shall be made no later than 7
(seven) days prior to the second GMS without calculating the date of Notice for
the GMS and date of the GMS and for such Notice of the GMS shall not require Announcement
of the GMS beforehand</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.&#160;&#160;&#160;&#160; The second GMS shall
be attended and/or represented by Series A Preferred Shareholder and other
shareholders or their lawful proxies jointly representing at least 2/3 (two
third) of total voting shares and the resolution shall be agreed by Series A
Preferred Shareholder and other shareholders or their lawful proxies jointly
representing more than &#190; (three quarter) of total votes at the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c.&#160;&#160;&#160;&#160; In the event that the
quorum for second GMS shall not be reached, the third GMS may be held if
fulfilled quorum requirements, resolution taking requirements, Notice of the
GMS requirements, and time to hold the GMS as stipulated by the Financial
Service Authority at the Company&#8217;s request.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Notice for the third GMS shall mention that the
second GMS was held without reaching quorum.The resolution of the third GMS
shall be valid if agreed by shareholders on the basis of requirements to take
resolution as set out by such Financial Service Authority, provided that the
third GMS shall be attended by and the resolution shall be agreed by Series A
Preferred Shareholder.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">4.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event of dissolution of the Company, either due
to the expiration of duration or dissolved on the basis of Resolution of the
GMS or declared dissolved on the basis of Court&#8217;s decision, it shall be
liquidated by liquidator.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">5.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Board of Director under the surveillance of Board of
Commissioners shall s</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">erve&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> as liquidator if in the resolution of GMS or decision
as meant in paragraph 4 above shall not appoint liquidator.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Wage for liquidator shall be determined by the GMS or
pursuant to Court&#8217;s decision.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">7.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The liquidator shall be obliged to register in Company
Mandatory List and Company Register and announce in the State Gazette and in
media of Announcement of the GMS as set out in Article 13 paragraph 8 above,
pursuant to Board of Directors consideration and with notification for such
purpose to the creditors and reported to the authorized official and Financial
Service Authority pursuant to regulations of law.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">8.&#160;&#160;&#160;&#160; A</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">rtilces of Association as mentioned herein along with
amendment thereof in the future shall be applicable until the validation date
of liquidation calculation by the GMS on the basis of majority affirmative
votes cast validly and the giving of release and discharge fully to the
liquidators.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">9.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The remaining liquidation calculation shall be
distributed to shareholders, each shall receive portion proportionally to
nominal value fully paid for each shares being owned.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">10.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The liquidating party shall also be obliged to
announce the property distribution plan after liquidation at least in 2 (two)
daily nationally circulated Indonesian newspapers and in 1 (one) English
newspaper, and in the State Gazette of the Republic of Indonesia.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">11.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In the event of dissolved Company, the Company may not
perform legal action save for settling property in liquidation process.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">12.&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The action of settlement as meant in paragraph 11
above shall consist of</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">:&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=ES-TRAD style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">Recording and collecting Company&#8217;s
properties;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=ES-TRAD style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">Determining procedure to distribute
properties;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">c.</font><font face="times new roman" lang=ES-TRAD style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">Payment to creditors;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">d.</font><font face="times new roman" lang=ES-TRAD style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">Payment of remaining properties after
liquidation to the GMS; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">e.</font><font face="times new roman" lang=ES-TRAD style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">Other action needs to
be done in settling properties.</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">CONFLICT OF INTEREST</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 30</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">1.&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">To perform legal action in form of transaction
containing conflict of interest between personal economic interest of
Directors, Commissioners, or shareholders with Company&#8217;e economic interest, the
Board of Directors shall require the approval of the GMS as meant in Article 15
paragraph 8.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2.</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160;&#160; a</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">.&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160;&#160; In the event that the Company&#8217;s interest has
conflict with personal interest of one of Director, then with the approval of
the Board of Commissioners the Company shall be represented by other Director.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">b.&#160;&#160;&#160;&#160; If such conflict of
interest involved all Directors, the Company shall be represented by Board of
Commissioners or one Commissioner appointed by meeting of Board of
Commissioners.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">c.&#160;&#160;&#160;&#160; If such conflict of
interest involved all Directors or Commissioners, the Company shall be represented
by other party appointed by the GMS.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">One and other without reducing the provision in
paragraph 1 of this Article.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">SHAREHOLDERS DOMICILE</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 31</font></b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">For matters
regarding shareholders related to the Company, the shareholders shall be deemed
to domicile in address as recorded in Shareholder Register as meant in Article
7 her</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">e</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">of</font><font face="Times New Roman" lang=DE style="font-size:10.0pt;line-height:normal;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=DE style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;text-transform:uppercase;">CLOSING PROVISIONS</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Article</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> 32</font></b></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">Insofar
as there is no separate provisions in this Articles of Association, UUPT and
other laws and regulation including regulations of Capital Market shall be
applied. For any matter that is not or insufficiently stipulated under the
Articles of Association, then GMS will resolve such matter.</font></p>

<p style="margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">Finally
the appearer by always acting as mentioned above explains, he hereby gives the
power of attorney to mister MARATUA, Sarjana Hukum, born in Padang Sidempuan,
on 1-1-1972 (the first of January one thousand nine hundred seventy two),
Indonesian Citizen, employee of Notary, residing in Jakarta, Jalan Tahi Bonar
Simatupang RT. 011, RW. 02, Susukan Village, Ciracas Sub District, East
Jakarta, holder of Residential Registration dated 30-6-2011 (the thirtieth of
June two thousand eleven) number 3175090101720009 and</font></p>

<p style="margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">&nbsp;</font></p>




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<p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><a href="#TOC"><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;font-weight:normal;">Table of Contents</font></u></a></p>

<p style="margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">Either
jointly or severally with substitution rights, to notify and/or submit the
application for approval to the Minister of Law and Human Rights of the
Republic of Indonesia in relation to the amendments to the said Articles of
Association as well as to conduct the change and/or addition in any nature as necessary
and required&#160; by the authorities, for the grant of receipt of notification
and/or the said approval letter, for such purpose to submit the application,
sign the application, deed and other letters, to choose the domicile and
further to conduct anything necessary without any exception.</font></p>

<p style="margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">This
deed is completed on 20.00 WIB (eight o clock Western Indonesia Time).</font></p>

<p style="margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">From
all matters as elaborated above;</font></p>

<p style="margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">IN
WITNESS WHEREOF;</font></b></p>

<p style="margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">This
deed is made and formalized in Jakarta on the day and date as mentioned at the
beginning of this deed with the location is outside Notary office at Graha
Merah Putih 1<sup>st</sup> Floor, Jalan Jenderal Gatot Subroto Kaveling 52,
South Jakarta and in the presence of:</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">Mister
HIMAWAN SUTANTO, Sarjana Hukum, born in Ciamis on 18-12-1972 (the eighteenth of
December one thousand nine hundred seventy two), Indonesian Citizen, residing
in Tangerang, Jalan Sektor V number 17, RT. 003 RW. 007, Sudimara Jaya Village,
Ciledug Sub District, Tangerang City, holder of the Residential </font><font face="times new roman" lang=IN style="font-size:10.0pt;">Registration
</font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">dated
20-7-2012 (the twentieth of July two thousand twelve) number 3671061812720001,
for this purpose was temporarily in Jakarta; and</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">Mister
RIO TAMPATI, Sarjana Hukum, born in Sumber Jaya on 13-6-1985 (the thirteenth of
June one thousand nine hundred eighty five), Indonesian Citizen, residing in
Depok, Komplek Bumi Sawangan Indah Blok D.3/119, RT. 006, RW. 010, Pengasinan
Village, Sawangan Sub District, Depok City, holder of the Residential </font><font face="times new roman" lang=IN style="font-size:10.0pt;">Registration&nbsp;</font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">
dated 2-2-2013 (the second of February two thousand thirteen) number
3276031306850005, for this purpose was temporarily in Jakarta.</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">Immediately,
after this deed was read by myself, Notary, to the appearer and witnesses, then
the minutes of this deed was signed by appearer, witnesses and myself, Notary
while the specimen of right thumb finger print of appearer which was made in a
separate sheet is attached in the minutes of this deed.</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">Made
without scratch, supplement or replacement.</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">The
minutes of this deed were duly signed.</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="courier new" lang=EN-GB style="font-size:10.0pt;">-</font><font face="times new roman" lang=EN-GB style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">GIVEN
AS THE COPY WITH THE SAME CONTENT.</font></p>

<p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">Notary
at South Jakarta Municipality</font></p>

<p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">/</font><i><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">stamp
duty and signature</font></i><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">/ 09 June</font><font face="times new roman" lang=IN style="font-size:10.0pt;"> 2015</font></p>

<p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><b><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">ASHOYA
RATAM, S.H., MKn.</font></b></p>

<p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><b><font face="times new roman" lang=EN-GB style="font-size:10.0pt;">&nbsp;</font></b></p>




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<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;"><a href="#TOC"><b><u><font color=blue face="times new roman" lang=EN-US style="font-size:8.0pt;">Table
of Contents</font></u></b></a></p>

<p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><a name=EXB2></a><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Exhibit
12.1</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">CERTIFICATION PURSUANT TO</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">15 U.S.C. SECTION 7241,</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">AS ADOPTED </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">PURSUANT
TO</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">SECTION
302</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> OF </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">THE SARBANES-OXLEY ACT OF 200</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2&nbsp;</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">I, Alex J. Sinaga,
President Director (Chief Executive Officer) of Perusahaan Perseroan (Persero)
PT Telekomunikasi Indonesia Tbk. (the &#8220;Company&#8221;), certify that:</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">I have reviewed this Annual Report
on Form 20-F of the Company;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Based on my knowledge, this report
does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with
respect to the period covered by this Report;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">3.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Based on my knowledge, the
financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of
operations and cash flows of the Company as of, and for, the periods presented
in this Report;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">4.</font><font face="times new roman" lang=EN-AU style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Company&#8217;s other certifying officer and I are
responsible for establishing and maintaining disclosure controls and procedures
(as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control
over financial reporting (as defined in Exchange Act Rules 13a-15(f) and
15d-15(f)) for the Company and have:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">(a)</font><font face="times new roman" lang=EN-AU style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Designed such disclosure controls and procedures, or
caused such disclosure control</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and procedure</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> to be designed under our
supervision, to ensure that material information relating to the Company,
including its consolidated subsidiaries, is made known to us by others within
those entities, particularly during the period in which this Annual Report is
being prepared;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">(b)</font><font face="times new roman" lang=EN-AU style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Designed such internal control over financial
reporting, or caused such internal control over financial reporting to be
designed under our supervision, to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting
principles;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">(c)</font><font face="times new roman" lang=EN-AU style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Evaluated the effectiveness of the Company&#8217;s
disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the
end of the period covered by this report based on such evaluation; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">(d)</font><font face="times new roman" lang=EN-AU style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Disclosed in this report any change in the Company&#8217;s
internal control over financial reporting that occurred during the period
covered by the Annual Report that has materially affected, or is reasonably
likely to materially affect, the Company&#8217;s internal control over financial
reporting; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">5.</font><font face="times new roman" lang=EN-AU style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">The Company&#8217;s other certifying officer and
I have disclosed, based on our most recent evaluation of internal control over
financial reporting, to the Company&#8217;s auditors and the audit committee of the
Company&#8217;s board of directors (or persons performing the equivalent functions):</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(a)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">All significant deficiencies and
material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the
Company&#8217;s ability to record, process, summarize and report financial
information; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(b)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Any fraud, whether or not
material, that involves management or other employees who have a significant
role in the Company&#8217;s internal control over financial reporting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Jakarta, March 31,
2016</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:15.75pt;">
  <td valign=bottom width=59% style="height:15.75pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:.5in;margin-right:8.95pt;margin-top:0in;text-align:right;text-indent:-.5in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">By:</font></p>
  </td>
 <td valign=bottom width=41% style="border-bottom:solid windowtext 1.0pt;height:15.75pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">/s/ Alex J. Sinaga</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=41% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Alex
  J. Sinaga</font></b></p>
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">President
  Director / Chief Executive Officer</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><b><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></b></a></p>

<p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><a name=EXB3></a><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Exhibit
12.2</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">CERTIFICATION PURSUANT TO</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">15 U.S.C. SECTION 7241,</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">AS ADOPTED </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">PURSUANT
TO</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">SECTION
302</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;"> OF </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">THE SARBANES-OXLEY ACT OF 200</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2&nbsp;</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">I, Heri Sunaryadi,
Director of Finance (Chief Financial Officer) of Perusahaan Perseroan (Persero)
PT Telekomunikasi Indonesia Tbk. (the &#8220;Company&#8221;), certify that:</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">I have reviewed this Annual Report
on Form 20-F of the Company;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">2.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Based on my knowledge, this report
does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with
respect to the period covered by this report;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">3.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Based on my knowledge, the
financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of
operations and cash flows of the Company as of, and for, the periods presented
in this report;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">4.</font><font face="times new roman" lang=EN-AU style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">The Company&#8217;s other certifying officer and I are
responsible for establishing and maintaining disclosure controls and procedures
(as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control
over financial reporting (as defined in Exchange Act Rules 13a-15(f) and
15d-15(f)) for the Company and have:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">(a)</font><font face="times new roman" lang=EN-AU style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Designed such disclosure controls and procedures, or
caused such disclosure control</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> and procedure</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">s&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;"> to be designed under our
supervision, to ensure that material information relating to the Company,
including its consolidated subsidiaries, is made known to us by others within
those entities, particularly during the period in which this Annual Report is
being prepared;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">(b)</font><font face="times new roman" lang=EN-AU style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Designed such internal control over financial
reporting, or caused such internal control over financial reporting to be
designed under our supervision, to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting
principles;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">(c)</font><font face="times new roman" lang=EN-AU style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Evaluated the effectiveness of the Company&#8217;s
disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the
end of the period covered by this report based on such evaluation; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">(d)</font><font face="times new roman" lang=EN-AU style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Disclosed in this report any change in the Company&#8217;s
internal control over financial reporting that occurred during the period
covered by the Annual Report that has materially affected, or is reasonably
likely to materially affect, the Company&#8217;s internal control over financial
reporting; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">5.</font><font face="times new roman" lang=EN-AU style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">The Company other certifying officer and I
have disclosed, based on our most recent evaluation of internal control over
financial reporting, to the Company&#8217;s auditors and the audit committee of the
Company&#8217;s board of directors (or persons performing the equivalent functions):</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(a)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">All significant deficiencies and
material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the
Company&#8217;s ability to record, process, summarize and report financial information;
and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(b)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Any fraud, whether or not
material, that involves management or other employees who have a significant
role in the Company&#8217;s internal control over financial reporting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Jakarta, March 31,
2016</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:15.75pt;">
  <td valign=bottom width=59% style="height:15.75pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:.5in;margin-right:8.95pt;margin-top:0in;text-align:right;text-indent:-.5in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">By:</font></p>
  </td>
 <td valign=bottom width=41% style="border-bottom:solid windowtext 1.0pt;height:15.75pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">/s/ Heri Sunaryadi</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=41% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Heri
  Sunaryadi</font></b></p>
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Director
  of Finance / Chief Financial Officer</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><b><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></b></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:748.000000pt;">
 <tr>
  <td colspan=4 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><a name=EXB4></a><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Exhibit 13.1</font></p>
  </td>
 </tr>
<tr>
  <td colspan=4 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">CERTIFICATION
  PURSUANT TO</font></b></p>
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">18
  U.S.C. SECTION 1350,</font></b></p>
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">AS
  ADOPTED PURSUANT TO</font></b></p>
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">SECTION
  906 OF THE SARBANES-OXLEY ACT OF 200</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2&nbsp;</font></b></p>
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td colspan=4 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">In connection with
  the Annual Report of Perusahaan Perseroan (Persero) PT Telekomunikasi
  Indonesia Tbk. (the &#8220;Company&#8221;) on Form 20-F for the year ending December 31,
  2015 as filed with the Securities and Exchange Commission on the date hereof
  (the &#8220;Report&#8221;), I, Alex J. Sinaga, President Director, (Chief Executive
  Officer) of the Company, certify, pursuant to 18 U.S.C. Section 1350, as
  adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 200</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2</font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">,
  that, to my knowledge:</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=5% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=5% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">(1)</font></p>
  </td>
 <td colspan=2 valign=top width=90% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">The Report fully
  complies with the requirements of section 13(a) or 15(d) of the Securities
  Exchange Act of 1934; and</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=5% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=5% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">(2)</font></p>
  </td>
 <td colspan=2 valign=top width=90% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">The information
  contained in the Report fairly presents, in all material respects, the
  financial condition and results of operations of the Company.</font></p>
  </td>
 </tr>
<tr>
  <td colspan=4 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">This certification
  accompanies this Report pursuant to Section 906 of the Sarbanes-Oxley Act of
  200</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2 </font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">and shall not be deemed filed with the Securities
  and Exchange Commission by the Company as part of the Report or as a separate
  disclosure document.</font></p>
  </td>
 </tr>
<tr>
  <td colspan=4 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Jakarta, March 31,
  2016</font></p>
  </td>
 </tr>
<tr>
  <td colspan=4 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=4 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td colspan=3 valign=bottom width=59% style="height:15.75pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:.5in;margin-right:8.95pt;margin-top:0in;text-align:right;text-indent:-.5in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">By:</font></p>
  </td>
 <td valign=bottom width=41% style="border-bottom:solid windowtext 1.0pt;height:15.75pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">/s/
  Alex J. Sinaga</font></p>
  </td>
 </tr>
<tr>
  <td colspan=3 valign=top width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=41% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Alex J. Sinaga</font></b></p>
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">President
  Director / Chief Executive Officer</font></b></p>
  </td>
 </tr>
<tr height=0>
  <td width=5%>&nbsp;</td>
 <td width=5%>&nbsp;</td>
 <td width=49%>&nbsp;</td>
 <td width=41%>&nbsp;</td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




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</DIV>
<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><b><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></b></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:748.000000pt;">
 <tr>
  <td colspan=4 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;"><a name=EXB5></a><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Exhibit 13.2</font></p>
  </td>
 </tr>
<tr>
  <td colspan=4 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">CERTIFICATION
  PURSUANT TO</font></b></p>
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">18
  U.S.C. SECTION 1350,</font></b></p>
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">AS
  ADOPTED PURSUANT TO</font></b></p>
  <p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">SECTION
  906 OF THE SARBANES-OXLEY ACT OF 200</font></b><b><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2&nbsp;</font></b></p>
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td colspan=4 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">In connection with
  the Annual Report of Perusahaan Perseroan (Persero) PT Telekomunikasi
  Indonesia Tbk. (the &#8220;Company&#8221;) on Form 20-F for the year ending December 31,
  2015 as filed with the Securities and Exchange Commission on the date hereof
  (the &#8220;Report&#8221;), I, Heri Sunaryadi, Director of Finance (Chief Financial
  Officer) of the Company, certify, pursuant to 18 U.S.C. Section 1350, as
  adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 200</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2</font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">,
  that, to my knowledge:</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=5% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=5% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">(1)</font></p>
  </td>
 <td colspan=2 valign=top width=90% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">The Report fully complies with the requirements
  of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=5% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=5% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">(2)</font></p>
  </td>
 <td colspan=2 valign=top width=90% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">The information contained in the
  Report fairly presents, in all material respects, the financial condition and
  results of operations of the Company.</font></p>
  </td>
 </tr>
<tr>
  <td colspan=4 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">This certification
  accompanies this Report pursuant to Section 906 of the Sarbanes-Oxley Act of
  200</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">2 </font><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">and shall not be deemed filed with the Securities
  and Exchange Commission by the Company as part of the Report or as a separate
  disclosure document.</font></p>
  </td>
 </tr>
<tr>
  <td colspan=4 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Jakarta, March 31, 2016</font></p>
  </td>
 </tr>
<tr>
  <td colspan=4 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td colspan=4 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td colspan=3 valign=bottom width=59% style="height:15.75pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:.5in;margin-right:8.95pt;margin-top:0in;text-align:right;text-indent:-.5in;"><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">By:</font></p>
  </td>
 <td valign=bottom width=41% style="border-bottom:solid windowtext 1.0pt;height:15.75pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">/s/
  Heri Sunaryadi</font></p>
  </td>
 </tr>
<tr>
  <td colspan=3 valign=top width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-AU style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=41% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Heri Sunaryadi</font></b></p>
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" style="font-size:10.0pt;line-height:normal;">Director of
  Finance / Chief Financial Officer</font></b></p>
  </td>
 </tr>
<tr height=0>
  <td width=5%>&nbsp;</td>
 <td width=5%>&nbsp;</td>
 <td width=49%>&nbsp;</td>
 <td width=41%>&nbsp;</td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><b><u><font color=blue face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></b></a></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><a name=SIGN2></a><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">SIGNATURES</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Pursuant to the
requirements of Section 12 of the Securities Exchange Act 1934, as amended, the
Registrant hereby certifies that it meets all of the requirements for filing on
Form 20-F and that it has duly caused and authorized the undersigned to sign
this Form 20-F on its behalf.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">PT TELEKOMUNIKASI
INDONESIA TBK</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Jakarta, March 31, 201</font><font face="Times New Roman" lang=IN style="font-size:10.0pt;line-height:normal;">6&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">By: &#160;&#160;&#160;&#160;&#160;&#160;&#160; /s/ Alex
J. Sinaga</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-indent:.5in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">Alex J. Sinaga</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">President
Director / Chief Executive Officer</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:14.0pt;">Perusahaan Perseroan (Persero)</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:14.0pt;"> &nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:14.0pt;">P</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:14.0pt;">T&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:14.0pt;">
Telekomunikasi Indonesia Tbk a</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:14.0pt;">nd subsidiaries</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:18.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:11.0pt;">C</font><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">onsolidated financial statements </font><font face=arial,sans-serif lang=IN style="font-size:11.0pt;">with report
of </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:11.0pt;">independent
registered public accounting firm </font><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">as of</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:11.0pt;">De</font><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">c</font><font face=arial,sans-serif lang=IN style="font-size:11.0pt;">ember 31,</font><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;"> 2014 and 2015 </font><font face=arial,sans-serif lang=IN style="font-size:11.0pt;">and for the</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:11.0pt;">year</font><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:11.0pt;"> ended</font><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;"> December 31, 2013,
2014 and 2015 </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face="eyinterstate light" lang=EN-US style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="eyinterstate light" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><img border=0 height=115 src="x16040122311400.jpg" width=577>&nbsp;</p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="eyinterstate light" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">Report<a name=RIRPAF></a> of Independent Registered Public Accounting Firm</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">Report No.
RPC-485/PSS/2016</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="eyinterstate light" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">The
Shareholders and the Boards of Commissioners and Directors of </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">Perusahaan
Perseroan (Persero) PT Telekomunikasi Indonesia Tbk</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="eyinterstate light" lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">We
have audited the accompanying consolidated statements of financial position of
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (the &#8220;Company&#8221;) and
subsidiaries as of December 31, 2015 and 2014, and the related consolidated
statements of profit or loss and other comprehensive income, changes in equity
and cash flows for each of the three years in the period ended December 31,
2015. These financial statements are the responsibility of the Company's
management. Our responsibility is to express an opinion on these financial
statements based on our audits.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="eyinterstate light" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">We
conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="eyinterstate light" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">In
our opinion, the financial statements referred to above present fairly, in all
material respects, the consolidated financial position of Perusahaan Perseroan
(Persero) PT Telekomunikasi Indonesia Tbk and subsidiaries at December 31, 2015
and 2014, and the consolidated results of their operations and their cash flows
for each of the three years in the period ended December 31, 2015, in
conformity with International Financial Reporting Standards as issued by the
International Accounting Standards Board.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="eyinterstate light" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">We
also have audited, in accordance with the standards of the Public Company
Accounting Oversight Board (United States), Perusahaan Perseroan (Persero) PT
Telekomunikasi Indonesia Tbk&#8217;s internal control over financial reporting as of
December 31, 2015, based on criteria established in Internal Control-Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway
Commission (2013 framework) and our report dated March 31, 2016 expressed an
unqualified opinion thereon.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">/s/
Purwantono, Sungkoro &amp; Surja</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">Purwantono,
Sungkoro &amp; Surja</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">Jakarta,
Indonesia</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:6.0pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">March
31, 2016</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><img border=0 height=57 src="x16040122311401.jpg" width=248>&nbsp;</p>




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<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face="eyinterstate light" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><img border=0 height=77 src="x16040122311402.jpg" width=552>&nbsp;</p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 border=0 style="width:100.0%;">
 <tr style="height:.2in;">
  <td width=100% style="height:.2in;padding:.75pt .75pt .75pt .75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="eyinterstate light" style="font-size:12.0pt;">Report of Independent Registered Public Accounting Firm</font></b></p>
  </td>
 </tr>
<tr>
  <td width=100% style="padding:.75pt .75pt .75pt .75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" style="font-size:5.0pt;">&nbsp;</font></p>
  <p style="margin:0in;margin-bottom:6.0pt;"><font face="eyinterstate light" style="font-size:12.0pt;">Report
  No. RPC-486/PSS/2016</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="eyinterstate light" style="font-size:12.0pt;">The
  Shareholders and the Boards of Commissioners and Directors of </font></b></p>
  <p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><b><font face="eyinterstate light" style="font-size:12.0pt;">Perusahaan Perseroan (Persero) PT
  Telekomunikasi Indonesia Tbk</font></b></p>
  </td>
 </tr>
<tr>
  <td width=100% style="padding:.75pt .75pt .75pt .75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face="eyinterstate light" style="font-size:12.0pt;">We have audited </font><font face="eyinterstate light" style="font-size:12.0pt;">Perusahaan
  Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (the &#8220;Company&#8221;) </font><font color=black face="eyinterstate light" style="font-size:12.0pt;">and subsidiaries&#8217;
  internal control over financial reporting as of December 31, 2015, based on
  criteria established in Internal Control-Integrated Framework issued by the
  Committee of Sponsoring Organizations of the Treadway Commission (2013
  framework) (the COSO criteria). </font><font face="eyinterstate light" style="font-size:12.0pt;">The Company and subsidiaries&#8217;</font><font color=black face="eyinterstate light" style="font-size:12.0pt;"> management is responsible for maintaining effective
  internal control over financial reporting, and for its assessment of the
  effectiveness of internal control over financial reporting included in the
  accompanying Management&#8217;s Report on Internal Control over Financial Reporting.
  Our responsibility is to express an opinion on the company&#8217;s internal control
  over financial reporting based on our audit. </font></p>
  </td>
 </tr>
<tr>
  <td width=100% style="padding:.75pt .75pt .75pt .75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:5.0pt;text-align:justify;"><font color=black face="eyinterstate light" style="font-size:12.0pt;">We conducted our audit
  in accordance with the standards of the Public Company Accounting Oversight
  Board (United States). Those standards require that we plan and perform the
  audit to obtain reasonable assurance about whether effective internal control
  over financial reporting was maintained in all material respects. Our audit
  included obtaining an understanding of internal control over financial
  reporting, assessing the risk that a material weakness exists, testing and
  evaluating the design and operating effectiveness of internal control based
  on the assessed risk, and performing such other procedures as we considered
  necessary in the circumstances. We believe that our audit provides a
  reasonable basis for our opinion.</font></p>
  </td>
 </tr>
<tr>
  <td width=100% style="padding:.75pt .75pt .75pt .75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:5.0pt;text-align:justify;"><font color=black face="eyinterstate light" style="font-size:12.0pt;">A company&#8217;s internal
  control over financial reporting is a process designed to provide reasonable
  assurance regarding the reliability of financial reporting and the
  preparation of financial statements for external purposes in accordance with </font><font face="eyinterstate light" style="font-size:12.0pt;">International Financial Reporting
  Standards as issued by the International Accounting Standards Board</font><font color=black face="eyinterstate light" style="font-size:12.0pt;">. A company&#8217;s internal control over financial reporting
  includes those policies and procedures that (1) pertain to the maintenance of
  records that, in reasonable detail, accurately and fairly reflect the
  transactions and dispositions of the assets of the company; (2) provide
  reasonable assurance that transactions are recorded as necessary to permit
  preparation of financial statements in accordance with </font><font face="eyinterstate light" style="font-size:12.0pt;">International
  Financial Reporting Standards as issued by the International Accounting Standards
  Board</font><font color=black face="eyinterstate light" style="font-size:12.0pt;">, and that receipts and expenditures of the
  company are being made only in accordance with authorizations of management
  and directors of the company; and (3) provide reasonable assurance regarding
  prevention or timely detection of unauthorized acquisition, use, or
  disposition of the company&#8217;s assets that could have a material effect on the
  financial statements.</font></p>
  </td>
 </tr>
<tr>
  <td width=100% style="padding:.75pt .75pt .75pt .75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:5.0pt;text-align:justify;"><font color=black face="eyinterstate light" style="font-size:12.0pt;">Because of its inherent
  limitations, internal control over financial reporting may not prevent or
  detect misstatements. Also, projections of any evaluation of effectiveness to
  future periods are subject to the risk that controls may become inadequate
  because of changes in conditions, or that the degree of compliance with the
  policies or procedures may deteriorate.</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:5.0pt;text-align:justify;"><img border=0 height=59 src="x16040122311403.jpg" width=255>&nbsp;</p>
  </td>
 </tr>
</table></div>




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</DIV>
<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face="eyinterstate light" lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><img border=0 height=90 src="x16040122311404.jpg" width=83>&nbsp;</p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 border=0 style="width:100.0%;">
 <tr>
  <td style="padding:.75pt .75pt .75pt .75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="eyinterstate light" style="font-size:12.0pt;">Report of Independent Registered Public Accounting Firm
  (continued)</font></b></p>
  </td>
 </tr>
<tr>
  <td style="padding:.75pt .75pt .75pt .75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" style="font-size:12.0pt;">&nbsp;</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" style="font-size:12.0pt;">Report No.
  RPC-486/PSS/2016 (continued)</font></p>
  </td>
 </tr>
<tr>
  <td style="padding:.75pt .75pt .75pt .75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:5.0pt;text-align:justify;"><font color=black face="eyinterstate light" style="font-size:12.0pt;">In our opinion, </font><font face="eyinterstate light" style="font-size:12.0pt;">Perusahaan Perseroan (Persero) PT
  Telekomunikasi Indonesia Tbk </font><font color=black face="eyinterstate light" style="font-size:12.0pt;">and subsidiaries maintained, in all material respects, effective internal
  control over financial reporting as of December 31, 2015, based on the COSO
  criteria.</font></p>
  </td>
 </tr>
<tr>
  <td style="padding:.75pt .75pt .75pt .75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:5.0pt;text-align:justify;"><font color=black face="eyinterstate light" style="font-size:12.0pt;">We also have audited, in
  accordance with the standards of the Public Company Accounting Oversight
  Board (United States), the consolidated statements of financial position of </font><font face="eyinterstate light" style="font-size:12.0pt;">Perusahaan Perseroan (Persero) PT
  Telekomunikasi Indonesia Tbk </font><font color=black face="eyinterstate light" style="font-size:12.0pt;">and subsidiaries as of
  December 31, 2015 and 2014, and the related </font><font face="eyinterstate light" style="font-size:12.0pt;">consolidated statements of
  profit or loss and other comprehensive income, changes in equity and cash
  flows</font><font color=black face="eyinterstate light" style="font-size:12.0pt;"> for each of the three years in the period
  ended December 31, 2015 of </font><font face="eyinterstate light" style="font-size:12.0pt;">Perusahaan
  Perseroan (Persero) PT Telekomunikasi Indonesia Tbk </font><font color=black face="eyinterstate light" style="font-size:12.0pt;">and
  subsidiaries and our report dated March 31,
  2016 expressed an unqualified opinion thereon.</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">/s/
Purwantono, Sungkoro &amp; Surja</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">Purwantono,
Sungkoro &amp; Surja</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">Jakarta,
Indonesia</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">March 31,
2016</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="eyinterstate light" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><img border=0 height=59 src="x16040122311405.jpg" width=255>&nbsp;</p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="background:white;margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">PERUSAHAAN PERSEROAN
(PERSERO)</font></b></p>

<p align=center style="background:white;margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">PT TELEKOMUNIKASI
INDONESIA Tbk AND SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">C</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ONSOLIDATED FINANCIAL STATEMENTS </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">WITH REPORT
OF</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">AS OF</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> DE</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">C</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">EMBER 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 AND 2015 </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">AND FOR THE</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">YEAR</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">S&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> ENDED</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> DECEMBER 31, 2013,
2014 AND 2015</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><a name=TOC2></a><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Table of Contents</font></b></p>

<p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td valign=bottom width=77% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">Page</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=77% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=77% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><a href="#RIRPAF"><u><font color=blue face=arial,sans-serif style="font-size:10.0pt;">Report of Independent
  Registered Public Accounting Firm</font></u></a></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=77% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=77% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><a href="#CSFP"><u><font color=blue face=arial,sans-serif style="font-size:10.0pt;">Consolidated Statements of
  Financial Position</font></u></a></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">1</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=77% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=77% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><a href="#CSPLCI"><u><font color=blue face=arial,sans-serif style="font-size:10.0pt;">Consolidated Statements
  of </font></u><u><font color=blue face=arial,sans-serif lang=IN style="font-size:10.0pt;">P</font></u><u><font color=blue face=arial,sans-serif style="font-size:10.0pt;">rofit or </font></u><u><font color=blue face=arial,sans-serif lang=IN style="font-size:10.0pt;">L</font></u><u><font color=blue face=arial,sans-serif style="font-size:10.0pt;">oss and </font></u><u><font color=blue face=arial,sans-serif lang=IN style="font-size:10.0pt;">O</font></u><u><font color=blue face=arial,sans-serif style="font-size:10.0pt;">ther </font></u><u><font color=blue face=arial,sans-serif lang=IN style="font-size:10.0pt;">C</font></u><u><font color=blue face=arial,sans-serif style="font-size:10.0pt;">omprehensive </font></u><u><font color=blue face=arial,sans-serif lang=IN style="font-size:10.0pt;">I</font></u><u><font color=blue face=arial,sans-serif style="font-size:10.0pt;">ncome&nbsp;</font></u></a></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">2</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=77% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=77% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><a href="#EQUITY"><u><font color=blue face=arial,sans-serif style="font-size:10.0pt;">Consolidated Statements
  of Changes in Equity</font></u></a></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">3-5</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=77% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=77% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><a href="#CSCF"><u><font color=blue face=arial,sans-serif style="font-size:10.0pt;">Consolidated Statements of
  Cash Flows</font></u></a></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">6</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=77% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=77% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><a href="#NOTES"><u><font color=blue face=arial,sans-serif style="font-size:10.0pt;">Notes to the Consolidated
  Financial Statements</font></u></a></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">7-132</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_164"></a><a name="_bclPageBorder164"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader164"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="background:white;margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="background:white;margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="background:white;margin:0in;margin-bottom:.0001pt;text-align:center;"><a name=CSFP></a><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">CONSOLIDATED
STATEMENTS OF FINANCIAL POSITION</font></b></p>

<p align=center style="background:white;margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December 31, </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2014 and </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015&nbsp;</font></b></p>

<p align=center style="background:white;margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in
billions of rupiah and millions of U.S. dollar)</font></b></p>

<p align=center style="background:white;margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:5.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">Notes</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">Rp</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">Rp</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">US$ (Note 4)</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.5pt;">ASSETS</font></b></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.5pt;">CURRENT ASSETS</font></b></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Cash and cash
  equivalents</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2c,2e,2t,</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">5</font><font face=arial,sans-serif style="font-size:7.5pt;">,3</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">4</font><font face=arial,sans-serif style="font-size:7.5pt;">,</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">38&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">17,672</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">28,117</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">2,040</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Other current
  financial assets</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2c,2e,2t,6,34,38</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">2,797</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">2,818</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">204</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Trade and other
  receivables</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2c,2g,2t,7,3</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">4</font><font face=arial,sans-serif style="font-size:7.5pt;">,38&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">7,380</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">7,872</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">571</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Inventories</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2h,8</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">474</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">528</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">38</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Advances and prepaid
  expenses</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2c,2i,2m,9,34</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">4,733</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">5,839</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">424</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Prepaid </font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">income taxes</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2s,31</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">28</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">81</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">Prepaid
  other taxes</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2s,31</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1,153</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">2,657</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">193</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Assets held for sale</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2j</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">57</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Total Current Assets</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">34,294</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">47,912</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">3,476</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.5pt;">NON-CURRENT ASSETS</font></b></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Long-term
  investments</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2f,10</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">1,767</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1,807</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">13</font><font face=arial,sans-serif style="font-size:7.5pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Property and
  equipment</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2c,2l,2m,2z,11,34,36</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">94,602</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">103,455</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">7,50</font><font face=arial,sans-serif style="font-size:7.5pt;">5&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Prepaid pension
  benefit cost</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2r,32</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">1,170</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1,331</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">9</font><font face=arial,sans-serif style="font-size:7.5pt;">6&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Intangible assets</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2d,2k,2z,13</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">2,463</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">3,056</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">222</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Deferred tax assets</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2s,31</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">95</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">201</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1</font><font face=arial,sans-serif style="font-size:7.5pt;">5&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Advances and other
  non-current assets</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2c,2g,2i,2m,2s,2t,1</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">2</font><font face=arial,sans-serif style="font-size:7.5pt;">,34,38&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">7,224</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">8,166</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">592</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Total Non-current
  Assets</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">107,321</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">118,016</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">8,561</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.5pt;">TOTAL ASSETS</font></b></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">141,615</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">165,928</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">12,037</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.5pt;">LIABILITIES AND
  EQUITY</font></b></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.5pt;">CURRENT LIABILITIES</font></b></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Trade and other
  payables</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2c,2n,2t,1</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">4</font><font face=arial,sans-serif style="font-size:7.5pt;">,3</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">4</font><font face=arial,sans-serif style="font-size:7.5pt;">,</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">38&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">12,476</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">14,284</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1,03</font><font face=arial,sans-serif style="font-size:7.5pt;">7&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Current income tax
  liabilities</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2s,31</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">1,501</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1,802</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">131</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Other tax
  liabilities</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2s,31</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">875</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1,471</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">107</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Accrued expenses</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2c,2t,1</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">5</font><font face=arial,sans-serif style="font-size:7.5pt;">,34,38&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">5,211</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">8,247</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">598</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Unearned income</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2q,16</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">3,963</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">4,360</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">316</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Advances from
  customers and suppliers</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2c,34</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">583</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">805</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">58</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Short-term loans and
  current maturities of long-term borrowings</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2c,2m,2o,2t,17,34,38</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">7,709</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">4,444</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">322</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Total Current
  Liabilities</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">32,318</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">35,413</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">2,56</font><font face=arial,sans-serif style="font-size:7.5pt;">9&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif lang=FR style="font-size:7.5pt;">NON-CURRENT
  LIABILITIES</font></b></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=FR style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=FR style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=FR style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=FR style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=FR style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=FR style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=FR style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=FR style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Deferred tax
  liabilities</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2s,31</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">2,703</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">2,110</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">15</font><font face=arial,sans-serif style="font-size:7.5pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Other liabilities</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2q</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">394</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">382</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">28</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Long service award
  provisions</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2r,33</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">410</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">501</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">36</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Pension benefit and
  other post-employment benefit obligations</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2r,32</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">4,115</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">4,171</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">303</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Long-term loans and
  other borrowings</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2c,2m,2o,2t,18,34,38</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">15,743</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">30,168</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">2,188</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Total Non-current
  Liabilities</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">23,365</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">37,332</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">2,70</font><font face=arial,sans-serif style="font-size:7.5pt;">8&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.5pt;">TOTAL LIABILITIES</font></b></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">55,683</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">72,745</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">5,27</font></b><b><font face=arial,sans-serif style="font-size:7.5pt;">7&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.5pt;">EQUITY</font></b></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Capital stock</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">1c,20</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">5,040</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">5,040</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">366</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Additional paid-in
  capital</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2u,21</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">2,421</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">2,457</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">17</font><font face=arial,sans-serif style="font-size:7.5pt;">8&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Treasury stock</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2u,2</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">2&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(3,836</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(3,804</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(276</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Retained earnings</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">63,798</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">70,893</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">5,143</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Other reserves</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2f,2t,2</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">223</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">348</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">2</font><font face=arial,sans-serif style="font-size:7.5pt;">5&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Net Equity Attributable
  to Owners of the Parent Company</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">67,646</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">74,934</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">5,436</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Non-controlling
  Interests</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.5pt;">2b,19</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">18,286</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">18,249</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1,324</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.5pt;">TOTAL EQUITY</font></b></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">85,932</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">93,183</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">6,760</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.5pt;">TOTAL LIABILITIES
  AND EQUITY</font></b></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">141,615</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">165,928</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">12,03</font></b><b><font face=arial,sans-serif style="font-size:7.5pt;">7&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.5pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=center style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:center;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">The
accompanying notes to the consolidated financial statements form an integral
part of these consolidated financial statements taken as a whole.</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_165"></a><a name="_bclPageBorder165"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader165"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">PERUSAHAAN PERSEROAN
(PERSERO)</font></b></p>

<p align=center style="background:white;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT
TELEKOMUNIKASI INDONESIA Tbk  AND SUBSIDIARIES</font></b></p>

<p align=center style="background:white;margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">CONSOLIDATED ST<a name=CSPLCI></a>ATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME</font></b></p>

<p align=center style="background:white;margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">For the Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended
December 31, </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2013,
2014 and </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015&nbsp;</font></b></p>

<p align=center style="background:white;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures
in tables are expressed in billions of rupiah and millions of U.S. dollar,</font></b></p>

<p align=center style="background:white;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">unless
otherwise stated)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">Notes</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">Rp</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">Rp</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">Rp</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">US$ (Note 4)</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">REVENUES</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2c,2q,2</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">5</font><font face=Arial,sans-serif style="font-size:7.5pt;">,3</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">82</font><font face=Arial,sans-serif style="font-size:7.5pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">967&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">89,696</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">102,470</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">7,433</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Operations, maintenance and
  telecommunication service expenses</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2c,2q,2</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">8</font><font face=Arial,sans-serif style="font-size:7.5pt;">,3</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(1</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">9</font><font face=Arial,sans-serif style="font-size:7.5pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">332&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(22,</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">288&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(28,116</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(2,040</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Depreciation and amortization</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2k,2l,2m,2z,1</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1</font><font face=Arial,sans-serif style="font-size:7.5pt;">,1</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(1</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">5</font><font face=Arial,sans-serif style="font-size:7.5pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">805&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(17,1</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">78&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(18,572</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(1,347</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Personnel expenses</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2c,2q,2r,2</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">7</font><font face=Arial,sans-serif style="font-size:7.5pt;">,3</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(9,</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">829&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(9,7</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">76&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(11,885</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(862</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Interconnection expenses</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2c,2q,30,34</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(4,927</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(4,893</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-9.0pt;"><font face=Arial,sans-serif style="font-size:7.5pt;">(3,586</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(260</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">General and administrative
  expenses</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2c,2q,</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">29</font><font face=Arial,sans-serif style="font-size:7.5pt;">,3</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">4</font><font face=Arial,sans-serif style="font-size:7.5pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">155&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(3,963</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(4,204</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(305</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Marketing expenses</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2q</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(3,0</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">4</font><font face=Arial,sans-serif style="font-size:7.5pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(3,092</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(3,275</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(238</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Loss on foreign exchange -
  net</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2p</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">249&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(14</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(46</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(3</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Other income</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2l,2q,1</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2,5</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">81&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">1,07</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">6&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1,500</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">109</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Other expenses</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2q,1</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">480&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(3</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">96&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(1,917</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(139</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">OPERATING PROFIT</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">2</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">7</font></b><b><font face=Arial,sans-serif style="font-size:7.5pt;">,</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">727&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">29,1</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">72&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">32,369</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">2,348</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Finance income</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2c,2q,3</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">836</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">1,238</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1,407</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">102</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Finance costs</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2c,2o,2q,3</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1</font><font face=Arial,sans-serif style="font-size:7.5pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">504&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(1,814</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(2,481</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(18</font><font face=Arial,sans-serif style="font-size:7.5pt;">0&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Share of loss of associated
  companies</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2f,1</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">0&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">29&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(17</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">0&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">PROFIT BEFORE INCOME TAX</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">2</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">7</font></b><b><font face=Arial,sans-serif style="font-size:7.5pt;">,0</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">30&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">28,5</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">79&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">31,293</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">2,270</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">INCOME TAX (EXPENSE)
  BENEFIT</font></b></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2s,3</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Current</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(6,</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">995&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(7,</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">616&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(8,365</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(607</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Deferred</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">95</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">27</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">5&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">342</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">25</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">Net Income Tax Expense</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">(6,900</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">(7,341</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">(</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">8</font></b><b><font face=Arial,sans-serif style="font-size:7.5pt;">,</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">023&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">(5</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">82&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">PROFIT FOR THE YEAR</font></b></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">20</font></b><b><font face=Arial,sans-serif style="font-size:7.5pt;">,1</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">30&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">21,2</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">38&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">23,270</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1,688</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">OTHER COMPREHENSIVE INCOME
  (EXPENSES)</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><i><font face=Arial,sans-serif style="font-size:7.5pt;">Other comprehensive
  income to be reclassified to profit or loss in subsequent
  periods:</font></i></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Foreign currency translation</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">p</font><font face=Arial,sans-serif style="font-size:7.5pt;">,2</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">120</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">24</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">128</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Net (loss) gain on
  available-for-sale financial assets</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2t,2</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(</font><font face=Arial,sans-serif style="font-size:7.5pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">0&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Share of other
  comprehensive income</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;"> of
  associated companies</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2f,10</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">0&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><i><font face=Arial,sans-serif style="font-size:7.5pt;">Other comprehensive
  income</font></i><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;"> not </font></i><i><font face=Arial,sans-serif style="font-size:7.5pt;">to be reclassified to profit or loss in subsequent
  periods:</font></i></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Defined benefit plan
  actuarial gain, net of tax</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2r,3</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">2&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">4,999</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">785</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">368</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">27</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Other </font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">C</font><font face=Arial,sans-serif style="font-size:7.5pt;">omprehensive
  Income </font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">- n</font><font face=Arial,sans-serif style="font-size:7.5pt;">et&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">5,115</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">810</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">493</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">36</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">NET COMPREHENSIVE INCOME
  FOR THE YEAR</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">25,24</font></b><b><font face=Arial,sans-serif style="font-size:7.5pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">22,048</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">23,763</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1,724</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Profit for the year
  attributable to:</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Owners of the parent company</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">24</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">14,046</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">14,437</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">15,451</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1,121</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Non-controlling interests</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">6,084</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">6,801</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">7,819</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">567</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">20,130</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">21,238</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">23,270</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1,688</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IT style="font-size:7.5pt;">Net comprehensive
  income for the year </font><font face=Arial,sans-serif style="font-size:7.5pt;">attributable to:</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IT style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IT style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IT style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IT style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IT style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IT style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IT style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IT style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IT style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IT style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Owners of the parent company</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">19,018</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">15,291</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">16,003</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1,161</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Non-controlling interests</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2b,</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">19&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">6,227</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">6,757</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">7,760</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">563</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">25,245</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">22,048</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">23,763</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1,724</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">BASIC AND DILUTED
  EARNINGS PER SHARE </font></b><font face=Arial,sans-serif style="font-size:7.5pt;">(in full amount)</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2w,2</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Profit per share</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">145.</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">77&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">147.78</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">157.38</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">0</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">.</font><font face=Arial,sans-serif style="font-size:7.5pt;">01&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Profit per ADS (200 Series
  B shares per ADS)</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">29,</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">153</font><font face=Arial,sans-serif style="font-size:7.5pt;">.</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">58&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">29,556.53</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">31,475.</font><font face=Arial,sans-serif style="font-size:7.5pt;">6</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">6&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">2.28</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p align=center style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:center;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">The
accompanying notes to the consolidated financial statements form an integral
part of these consolidated financial statements taken as a whole.</font></p>

<p align=center style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:center;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#160;&nbsp;</font></p>








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<p align=center style="background:white;margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">PERUSAHAAN PERSEROAN (PERSERO)</font></b></p>

<p align=center style="background:white;margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="background:white;margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">CONS<a name=EQUITY></a>OLIDATED
STATEMENTS OF </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">CHANGES IN EQUITY</font></b></p>

<p align=center style="background:white;margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">For the Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended
December 31, </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2013,
2014 and </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015&nbsp;</font></b></p>

<p align=center style="background:white;margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in
billions of rupiah)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:1.25in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td colspan=11 valign=bottom width=53% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">Attributabl</font></b><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">e </font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">to </font></b><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">owners of the parent c</font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">ompany&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Description</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Notes</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Capital stock</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Additional paid-in capital</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Treasury stock</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Retained earnings</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Other reserves</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Net</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Non-</font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">c</font></b><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">ontrolling interests</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Total</font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;"> equity</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">Balance, </font></b><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">January 1, 2013</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">5,040</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">1,073</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">(8,067</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">)</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">47,927</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">82</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">46,055</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">15,314</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">61,369</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">Net </font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">comprehensive income for the year</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">2b</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">Profit
  for the year</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">14,046</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">14,046</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">6,084</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">20,130</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">Other
  comprehensive income</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">2f,2r,2t</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">4,856</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">11</font><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">6&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">4,9</font><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">72&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">143</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">5,11</font><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">5&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">Net</font><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">
  comprehensive income for the year</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">18,902</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">11</font><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">6&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">19,018</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">6,227</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">25,245</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">Transactions
  with owners recorded</font></b><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">
  directly</font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;"> in
  equity</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">Cash
  dividends</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">2</font><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">v</font><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">,20&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(8,354</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(8,354</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(4,690</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(13,044</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">Sale of t</font><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">reasury stock </font><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">and transfer to employees stock ownership program</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">2</font><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">u</font><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">,</font><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">21,</font><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">22&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">772</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">2,262</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">3,034</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">3,034</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">Acquisition of a
  business</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">Issuance of new
  shares of </font><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">subsidiaries&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">45</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">45</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">Net</font><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;"> transactions
  with owners</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">772</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">2,262</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(8,354</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(5,320</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(4,640</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(9,960</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">Balance, December 31, 2013</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">5,040</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">1,845</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">(5,805</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">)</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">58,475</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">198</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">59,753</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">16,901</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">76,654</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p align=left style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:left;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:7.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">The accompanying notes
to the consolidated financial statements form an integral part of these
consolidated financial statements taken as a whole.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_167"></a><a name="_bclPageBorder167"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p align=center style="background:white;margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="background:white;margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="background:white;margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">CONSOLIDATED
STATEMENTS OF </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">CHANGES IN EQUITY</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (continued)</font></b></p>

<p align=center style="background:white;margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">For the Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended
December 31, </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2013,
2014 and </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015&nbsp;</font></b></p>

<p align=center style="background:white;margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in
billions of rupiah)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:1.25in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></sup></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td colspan=11 valign=bottom width=53% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">Attributable to </font></b><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">owners of
  the parent c</font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">ompany&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Description</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Notes</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Capital stock</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Additional paid-in capital</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Treasury stock</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Retained earnings</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Other reserves</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Net</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Non-controlling interests</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">Total</font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;"> equity</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">Balance, </font></b><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">December 31</font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">, 201</font></b><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">5,040</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">1,</font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">845&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">(</font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">5,805&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">)</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">58</font></b><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">,</font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">475&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">198</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">59,753</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">1</font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">6,901&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">76,654</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">Net </font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">comprehensive income for the year</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">2b</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">Profit for the year</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">14,437</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">14,437</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">6,801</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">21,238</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">Other comprehensive income</font><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;"> (</font><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">expenses)&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">2f,2r,2t</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">829</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">25</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">854</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(44</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">810</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">Net</font><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">
  comprehensive income for the year</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">15,266</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">25</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">15,291</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">6,757</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">22,048</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">Transactions
  with owners recorded</font></b><b><font color=black face=arial,sans-serif style="font-size:7.0pt;layout-grid-mode:char;">
  directly </font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">in
  equity</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">Cash dividends</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">2v,20</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(9,943</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(9,943</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(5,485</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(15,428</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">Sale of t</font><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">reasury stock</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">2</font><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">u</font><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">,</font><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">21,</font><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">22&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">576</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">1,969</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">2,545</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">2,545</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">Issuance of new shares of subsidiaries</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">1d</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">74</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">74</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font color=black face=arial,sans-serif lang=EN-AU style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">Acquisition of a business</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">1d</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">3</font><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">9&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">3</font><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">9&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">Net</font><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;"> transactions
  with owners</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">576</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">1,969</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(9,943</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(7,398</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(5,372</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">(12,770</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;font-weight:normal;layout-grid-mode:char;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">Balance, December 31, 2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">5,040</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">2,421</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">(3,836</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">)</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">63,798</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">223</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">67,646</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">18,286</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">85,932</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">The accompanying notes
to the consolidated financial statements form an integral part of these consolidated
financial statements taken as a whole.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:1.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:1.25in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align=center style="background:white;margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="background:white;margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk AND
SUBSIDIARIES</font></b></p>

<p align=center style="background:white;margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">CONSOLIDATED
STATEMENTS OF </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">CHANGES IN EQUITY</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (continued)</font></b></p>

<p align=center style="background:white;margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">For the Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended
December 31, </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2013,
2014 and </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015&nbsp;</font></b></p>

<p align=center style="background:white;margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in
billions of rupiah)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p align=center style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:center;text-indent:1.25in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></sup></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=11 valign=bottom width=53% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Attributable to </font></b><b><font face=Arial,sans-serif style="font-size:7.0pt;">owners of the parent c</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">ompany&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Description</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Notes</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Capital stock</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Additional paid-in capital</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Treasury stock</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Retained earnings</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Other reserves</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Net</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Non-</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">c</font></b><b><font face=Arial,sans-serif style="font-size:7.0pt;">ontrolling
  interests</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Total</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;"> equity</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Balance, </font></b><b><font face=Arial,sans-serif style="font-size:7.0pt;">December 31</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">, 201</font></b><b><font face=Arial,sans-serif style="font-size:7.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5,040</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2,421</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(3,836</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">63,798</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">223</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">67,646</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">18,286</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">85,932</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;">Net </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">comprehensive income for the year </font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">2b</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Profit for the year</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">15,451</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">15,451</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">7,819</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">23,270</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Other comprehensive
  income</font><font face=Arial,sans-serif style="font-size:7.0pt;"> (</font><font face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;">expenses)&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">2f,2r,2t</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">427</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">125</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">552</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(59</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">493</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;">Net</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;"> comprehensive income for the year</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">15,878</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">125</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">16,003</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">7,760</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">23,763</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Transactions
  with owners recorded</font></b><b><font face=Arial,sans-serif style="font-size:7.0pt;"> directly </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">in equity</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Cash dividends</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2</font><font face=Arial,sans-serif style="font-size:7.0pt;">v</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">,20&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(8,783</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(8,</font><font face=Arial,sans-serif style="font-size:7.0pt;">78</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(7,831</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(16,614</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Sale of t</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">reasury stock</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2</font><font face=Arial,sans-serif style="font-size:7.0pt;">u</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">,</font><font face=Arial,sans-serif style="font-size:7.0pt;">21,</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">22&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">36</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">32</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">68</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">68</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Issuance of new shares of
  subsidiaries</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1d</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:7.0pt;">Acquisition of a
  business</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1d</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">29</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">29</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:3.15pt;">
  <td valign=bottom width=21% style="background:#c6d9f1;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Net</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;"> transactions with owners</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">36</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">32</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(8,783</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(8,715</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(7,797</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(16,512</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:3.15pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Balance,
  December 31, 2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5,040</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2,457</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(3,804</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">70,893</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">348</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">74,934</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">18,249</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">93,183</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:7.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p align=left style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:left;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">The accompanying notes
to the consolidated financial statements form an integral part of these
consolidated financial statements taken as a whole.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>








</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_169"></a><a name="_bclPageBorder169"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader169"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><a name=CSCF></a><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">CONSOLIDATED
STATEMENT</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">S&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> OF CASH FLOW</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">S &nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">For the Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended
December 31, </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2013,
2014 and </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015&nbsp;</font></b></p>

<p align=center style="background:white;margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in
billions of rupiah and millions of U.S. dollar)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.36%;">
 <tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Notes</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-9.0pt;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Rp</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Rp</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">US$ (Note </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">4</font></b><b><font face=Arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">CASH FLOWS FROM
  OPERATING ACTIVITIES</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Cash receipts of revenues
  from:</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Customers</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">77,013</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">84,748</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">98,002</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">7,109</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Other operators</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">4,521</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">4,379</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2,700</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">196</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Total cash receipts of
  revenues</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">81,534</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">89,127</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100,702</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">7,305</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Interest income received</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">832</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1,236</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1,386</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">101</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Cash payments for expenses</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(27,440</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(33,124</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(35,922</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(2,606</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Cash payments to employees</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(9,883</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(9,594</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(10,940</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(794</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Payments for corporate and
  final income taxes</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">31h</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(7,395</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(7,436</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(9,299</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(675</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Payments for interest costs</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,476</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,911</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(2,623</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(190</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Payments for value added
  taxes - net</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(514</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(210</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(15</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Advance received from
  customers</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">186</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Other cash receipts </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(payments)&nbsp;</font><font face=Arial,sans-serif style="font-size:7.0pt;">
  - net</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">216</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(48</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">5</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">75&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">42</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Net cash provided by
  operating activities</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">36,574</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">37,736</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">43,669</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">3,168</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">CASH FLOWS FROM
  INVESTING ACTIVITIES</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Proceeds from sale of
  property and equipment</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">11</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">466</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">501</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">733</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">53</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Proceeds from insurance
  claims</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">11</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">60</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">212</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">119</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Proceeds from sale
  (acquisition) of other assets</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">12</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(791</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(8</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">36</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Dividends received from
  associated company</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">10</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">18</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Acquisition of property and
  equipment</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">11</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(19,644</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(24,798</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(26,499</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,922</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Acquisition of intangible
  assets</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">13</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(637</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,328</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,439</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(104</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Acquisition of business,
  net of acquired cash</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1d</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(201</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(110</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(114</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(8</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(Placements in) proceeds
  from time deposits and assets available-for-sale</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">6</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(2,288</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">6,178</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(105</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Increase in advances for
  purchases of property and equipment</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(775</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,808</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(67</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(5</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Acquisition of long-term
  investments</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">10</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(20</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,487</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(62</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Placements in escrow
  account</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(2,121</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(41</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(3</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Proceeds from sale of
  available-for-sale financial assets</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">49</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Divestment of long-term
  investment</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">153</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Divestment of investment in
  subsidiary</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">926</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Net cash used in
  investing activities</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(22,702</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(24,748</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(27,421</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(1,989</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">CASH FLOWS FROM
  FINANCING ACTIVITIES</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Proceeds from loans and
  other borrowings</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">17,18</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">3,538</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">10,454</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">20,561</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1,492</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Proceeds from sale of
  treasury stock</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">22</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">2,368</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">2,541</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">68</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Capital contribution of
  non-controlling interests in subsidiaries</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">50</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">74</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Repayments of loans and
  other borrowings</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">17,18</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(6,239</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(7,724</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(10,427</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(757</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Cash dividends paid to the
  Company&#8217;s stockholders</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">20</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(8,354</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(9,943</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(8,783</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(637</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Cash dividends paid to
  non-controlling interests of subsidiaries</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(4,690</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(5,485</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(7,831</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(568</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Net cash used in
  financing activities</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(13,327</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(10,083</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(6,407</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(465</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">NET INCREASE IN CASH AND
  CASH EQUIVALENTS</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">545</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">2,905</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">9,841</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">714</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">EFFECT OF EXCHANGE RATE
  CHANGES ON CASH AND CASH EQUIVALENTS</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1,</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">039&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">71</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">604</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">44</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">CASH AND CASH
  EQUIVALENTS AT BEGINNING OF YEAR</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">5</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">13,118</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">14,696</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">17,672</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1,282</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">ENDING BALANCE OF
  DISPOSED SUBSIDIARY</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(6</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=39% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">CASH AND CASH EQUIVALENTS
  AT END OF YEAR</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">5</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">14,696</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">17,672</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">28,117</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">2,040</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">The accompanying notes
to the consolidated financial statements form an integral part of these
consolidated financial statements taken as a whole.</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>








</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_170"></a><a name="_bclPageBorder170"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader170"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">N<a name=NOTES></a>OTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.7pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.&#160;&#160; GENERAL</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.7pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-17.1pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&#160;&#160; Establishment
and general information</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Perusahaan Perseroan
(Persero) PT Telekomunikasi Indonesia Tbk (the &#8220;Company&#8221;) was originally part
of </font><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8220;Post en Telegraafdienst&#8221;</font></i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, which was established and operated
commercially in 1884 under the framework of Decree No. 7 dated March 27, 1884
of the Governor General of the Dutch Indies</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">. Decree No. 7 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">was published in
State Gazette No. 52 dated April 3, 1884.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">In 1991, the status
of the Company was changed into a state-owned limited liability corporation
(&#8220;Persero&#8221;) based on Government Regulation No. 25/1991. The ultimate parent of
the Company is the Government of the Republic of Indonesia (the &#8220;Government&#8221;) (Notes 1c and 2</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">0</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">).&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Company was established based on notarial deed No. 128 dated September 24, 1991
of Imas Fatimah, S.H. Its deed of establishment was approved by the Ministry of
Justice of the Republic of Indonesia in its Decision Letter No.
C2-6870.HT.01.01.Th.1991 dated November 19, 1991 and was published in State
Gazette No. 5 dated January 17, 1992, Supplement No. 210. The Articles of
Association has been amended several times, the latest amendment of which was
about, among others, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">i</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">n compliance with the
Financial Services Authority Regulations and the Ministry of State-Owned
Enterprises Regulations and Circular Letters, addition of main and
supplementary business activities of the Company, addition of special right of
Series A Dwiwarna stockholders, revision regarding the change in authority
limitation of the Board of Directors which requires approval from the Board of
Commissioners in performing such managing activities of the Company as well as
improvement in the editorial and order of Articles of Association related to
the addition of Articles of Association substance based on notarial deed No. 20
dated May 12, 2015 of Ashoya Ratam, S.H., MKn</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The latest amendment was
accepted and approved by the Ministry of Law and Human</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Rights of the
Republic of Indonesia (&#8220;MoLHR&#8221;) in its Letter </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">No. AHU-AH.01</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.03</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">-</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">0938775&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> date</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">d June 9, 2015
and MoLHR </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">D</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">ecision No.
AHU-0936901.AH.01.02.Th.2015 dated June 9, 2015. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">In accordance with
Article 3 of the Company&#8217;s Articles of Association, the scope of its activities
is to provide telecommunication network and telecommunication and information
services, and to optimize the Company&#8217;s resources in accordance with prevailing
regulations. In regard to achieving objective, the Company is involved in the
following activities:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Main business:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Planning, building,
providing, developing, operating, marketing</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> or </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">selling&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> or </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">leasing</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">,&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and maintaining
telecommunications and information networks </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">in a broad sense </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">in accordance with
prevailing </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">regulations</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ii.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Planning, developing,
providing, marketing</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">/</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">selling</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">,&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and improving
telecommunications and information services </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">in a broad sense </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">in accordance with
prevailing </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">regulation</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s.&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">iii.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Investing&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> including </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">equity </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">capital in other
companies in line with achieving the purposes and objectives of the Company</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Supporting business:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Providing payment transactions
and money transferring services through telecommunications and information
networks.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ii.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Performing activities
and other undertakings in connection with the optimization of the Company's
resources, which among others, include the utilization of the Company's
property and equipment and moving assets, information systems, education and
training, and repairs and maintenance facilities.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">iii.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Collaborat</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">ing&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> with other parties
in order to optimize the information, communication or technology resources
owned by other parties as </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">service provider in </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">information,
communication and technology industry </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">as to</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> achieving the purposes and objectives
of the Company.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Company&#8217;s head office is located at Jalan
Japati No. 1, Bandung,
West
Java.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_171"></a><a name="_bclPageBorder171"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader171"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.&#160;&#160;&#160; GENERAL</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.7pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-17.1pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&#160;&#160; Establishment
and general information</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Company </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">was granted</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> several </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">networks
and/or services</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
licenses by the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">G</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">overnment which are
valid for an unlimited period of time as long as the Company complies with </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">prevailing
laws </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">and
fulfills the obligation stated in those licenses. For every license, an evaluation is
performed annually and an overall evaluation is performed every 5 (five) years. The Company is
obliged to submit reports of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">networks and/or </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">services annually to
the Indonesian Directorate General of Post and Informatics (&#8220;DGPI&#8221;), which
replaced the previous Indonesian Directorate General of Post and
Telecommunications (&#8220;DGPT&#8221;).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The reports comprise
information such as network development progress, service quality standard
achievement, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">numbers
of </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">customers,
license payment and universal service contribution, while for internet
telephone services for public purpose, internet inter</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">c</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">onnection service,
and internet access service, there </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">are&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> additional information</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> required such as
operational performance, customer segmentation, traffic, and gross revenue.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Details of these
licenses are as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.3%;">
 <tr>
  <td valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=FR style="font-size:9.0pt;">License</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=FR style="font-size:9.0pt;">License No.</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">Type of services</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=FR style="font-size:9.0pt;">Grant date/latest</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;"> renewal date</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">License to operate
  local fixed line and basic telephone services network</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">381/KEP/M.KOMINFO/10/2010</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">Local fixed line and
  basic telephone services network</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">October 28, 2010</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">License to operate
  fixed domestic long distance and basic telephone services network</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">382/KEP/M.KOMINFO/10/2010</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">Fixed domestic long
  distance and basic telephone services network</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">October 28, 2010</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">License to operate
  fixed international and basic telephone services network</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">383/KEP/
  M.KOMINFO/10/2010</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">Fixed international
  and basic telephone services network</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">October 28, 2010</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">License to operate
  fixed closed network</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">398/KEP/M.KOMINFO/11/2010</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">Fixed closed network</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">November 12, 2010</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">License to operate
  internet telephone services for public purpose</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">384/KEP/DJPT/M.KOMINFO/11/2010</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Internet telephone services for public
  purposes</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">November 29, 2010</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">License to operate
  as internet service provider</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">83/KEP/DJPPI/KOMINFO/4/2011</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">Internet service
  provider</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">April 7, 2011</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">License to operate
  data communication system services</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">169/KEP/DJPPI/KOMINFO/6/2011</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">Data communication
  system services</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">June 6, 2011</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">License to operate
  packet switched based local fixed line network</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">331/KEP/M.KOMINFO/07/2011</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">Packet switched
  based local fixed line network</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">July 27, 2011</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">License to operate
  network access point</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">331/KEP/M.KOMINFO/09/2013</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Internet connection services</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">September 24, 2013</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_172"></a><a name="_bclPageBorder172"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader172"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.7pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.&#160;&#160; GENERAL (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-17.1pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.&#160;&#160; Company&#8217;s Board
of Commissioners, Board of Directors, Audit Committee</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> Corporate Secretary </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.&#160;&#160; Boards of Commissioners and Directors</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Based on resolutions
made at </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Annual
General Meeting (&#8220;AGM&#8221;) of Stockholders of the Company as covered by notarial
deed No. 26 of </font><font face=arial,sans-serif lang=EN-GB style="font-size:10.0pt;">Ashoya Ratam, S.H., MKn.,</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> dated April 17,
2015, and </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Extraordinary
General Meeting (&#8220;E</font><font face=arial,sans-serif lang=EN-GB style="font-size:10.0pt;">GM</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#8221;)&nbsp;</font><font face=arial,sans-serif lang=EN-GB style="font-size:10.0pt;"> as covered by notarial deed No. 35 of
Ashoya Ratam, S.H., MKn., dated December 19, 2014</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, t</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">he composition of the
Company&#8217;s Boards of Commissioners and Directors as of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 31</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, 2014 and
2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,
respectively, was as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.94%;">
 <tr>
  <td valign=top width=32% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=33% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">President
  Commissioner</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Hendri
  Saparini</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Hendri
  Saparini</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Commissioner</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Dolfie
  Othniel Fredric Palit</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Dolfie
  Oth</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">n</font><font face=arial,sans-serif style="font-size:10.0pt;">iel Fredric Palit</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Commissioner</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Hadiyanto</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Hadiyanto</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Commissioner</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Imam
  Apriyanto Putro</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Margiyono
  Darsasumarja</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Independent
  Commissioner</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Virano
  Gazi Nasution</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Rinaldi
  Firmansyah</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Independent
  Commissioner</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Parikesit
  Suprapto</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Parikesit
  Suprapto</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Independent
  Commissioner</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Johnny
  Swandi Sjam</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Pamiyati
  Pamela Johanna</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">President Director</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Alex
  Janangkih Sinaga</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Alex
  Janangkih Sinaga</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Director of Finance</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Heri
  Sunaryadi</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Heri
  Sunaryadi</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Director of
  Innovation and Strategic Portfolio</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Indra
  Utoyo</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Indra
  Utoyo</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Director of
  Enterprise and Business Service</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Muhammad
  Awaluddin</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Muhammad
  Awaluddin</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Director of
  Wholesale and International Services</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Honesti
  Basyir</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Honesti
  Basyir</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Director of Human
  Capital Management</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Herdy
  Rosadi Harman</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Herdy
  Rosadi Harman</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Director of
  Network, Information Technology and Solution</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Abdus
  Somad Arief</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Abdus
  Somad Arief</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Director of
  Consumer Services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Dian
  Rachmawan</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Dian
  Rachmawan</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2</font><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; </font></i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Audit Committee and Corporate
Secretary</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The composition of the Company&#8217;s Audit
Committee and the Corporate Secretary as of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December 31, 2014</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, were as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.94%;">
 <tr>
  <td valign=top width=32% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=33% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=33% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5*&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Chairman</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Johnny Swandi Sjam</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Rinaldi Firmansyah</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Secretary</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Tjatur Purwadi</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Tjatur Purwadi</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Member</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Parikesit Suprapto</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Parikesit Suprapto</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Member</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Virano Gazi Nasution</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Dolfie Othniel
  Fredric Palit</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Member</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Agus Yulianto</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Corporate
  Secretary</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Honesti Basyir</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Andi Setiawan</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-indent:.7pt;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">* The changes</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;"> of </font><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">Audit Committee </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">are&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;"> based on </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Board of </font><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">Commissioner</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">s&#8217;&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;"> Regulation </font><font face=arial,sans-serif lang=EN-GB style="font-size:7.0pt;">No.</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">10</font><font face=arial,sans-serif lang=EN-GB style="font-size:7.0pt;">/KEP/DK/2015
dated </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">September
30</font><font face=arial,sans-serif lang=EN-GB style="font-size:7.0pt;">,
2015</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-indent:.7pt;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.7pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.&#160;&#160; GENERAL (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;text-indent:-9.0pt;vertical-align:baseline;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-17.1pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">c.&#160;&#160; Public offering
of securities of the Company</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Company&#8217;s shares
prior to its Initial Public Offering (&#8220;IPO&#8221;) totalled 8,400,000,000, consisting
of 8,399,999,999 Series B shares and 1 Series A Dwiwarna share, and were </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">wholly</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">-owned by the
Government</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">On
November 14, 1995, 933,333,000 new Series B shares and 233,334,000 Series B
shares owned by the Government were offered to the public through an IPO and
listed on the Indonesia Stock Exchange (&#8220;IDX&#8221;) and 700,000,000 Series B shares
owned by the Government were offered to the public and listed on the New York
Stock Exchange (&#8220;NYSE&#8221;) and the London Stock Exchange (&#8220;LSE&#8221;), in the form of
American Depositary Shares (&#8220;ADS&#8221;). There were 35,000,000 ADS and each ADS
represented 20 Series B shares at that time.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">In December 1996, the
Government had a block sale of its 388,000,000 Series B shares, and in 1997,
distributed 2,670,300 Series B shares as incentive to the Company&#8217;s
stockholders who did not sell their shares within one year from the date of the
IPO. In May 1999, the Government further sold 898,000,000 Series B shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">To comply with Law
No. 1/1995 on Limited Liability Companies, at the AGM of Stockholders of the
Company on April 16, 1999, the Company&#8217;s stockholders resolved to increase the
Company&#8217;s issued share capital by the distribution of 746,666,640 bonus shares
through the capitalization of certain additional paid-in capital, which were
made to the Company&#8217;s stockholders in August 1999. On August 16, 2007, Law No.
1/1995 on Limited Liability Companies was amended by the issuance of Law No.
40/2007 on Limited Liability Companies which became effective on the same date.
Law No. 40/2007 has no effect on the public offering of shares of the Company.
The Company has complied with Law No. 40/2007. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">In December 2001, the
Government had another block sale of its 1,200,000,000 shares or 11.9% of the
total outstanding Series B shares. In July 2002, the Government further sold a
block of 312,000,000 shares or 3.1% of the total outstanding Series B shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">At the AGM of
Stockholders of the Company held on July 30, 2004, the minutes of which are
covered by notarial deed No. 26 of A. Partomuan Pohan, S.H., LLM., the
Company&#8217;s stockholders approved the Company&#8217;s 2-for-1 stock split for Series A
Dwiwarna and Series B share. The Series A Dwiwarna share with par value of
Rp500 per share was split into 1 Series A Dwiwarna share with par value of
Rp250 per share and 1 Series B share with par value of Rp250 per share. The
stock split resulted in an increase of the Company&#8217;s authorized capital stock
from 1 Series A Dwiwarna share and 39,999,999,999 Series B shares to 1 Series A
Dwiwarna share and 79,999,999,999 Series B shares, and the issued capital stock
from 1 Series A Dwiwarna share and 10,079,999,639 Series B shares to 1 Series A
Dwiwarna share and 20,159,999,279 Series B shares. After the stock split, each
ADS represented 40 Series B shares.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">During the EGM held
on December 21, 2005 and the AGMs held on June 29, 2007, June 20, 2008 and May
19, 2011, the Company&#8217;s stockholders approved phases I, II, III and IV</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> plan</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively, of
the Company&#8217;s program to repurchase its issued Series B shares (Note </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2).&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">PERUSAHAAN PERSEROAN
(PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT
TELEKOMUNIKASI INDONESIA Tbk  AND SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in
tables are expressed in billions of rupiah, unless otherwise
stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.7pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.&#160;&#160; GENERAL
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-17.1pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">c.&#160;&#160; Public offering
of securities of the Company</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.55pt;text-align:justify;text-indent:.3pt;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">During the period
December 21, 2005 to June 20, 2007, the Company had bought back 211,290,500
shares from the public (stock repurchase program phase I).</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> O</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">n July 30, 2013, the
Company has sold all such shares </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(Note 22).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">At the AGM held on
April 19, 2013 as covered by notarial deed No. 38 dated April 19, 2013 of
Ashoya Ratam, S.H., MKn., the stockholders approved the changes to the
Company&#8217;s plan on the treasury stock acquired under phase III (Note 22).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:37.35pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">At the AGM held on
April 19, 2013, the minutes of which are covered by notarial deed No. 38 of Ashoya Ratam,
S.H</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, MKn</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, the stockholders
approved the Company&#8217;s 5-for-1stock split for Series A Dwiwarna and Series B
shares. Series A Dwiwarna share with par value of Rp250 per share was split
into 1 Series A Dwiwarna share with par value of Rp50 per share and 4 Series B
shares with par value Rp50 per share. The stock split resulted in an increase
of the Company&#8217;s authorized capital stock from 1 Series A Dwiwarna and
79,999,999,999 Series B shares to 1 Series A Dwiwarna and 399,999,999,999
Series B shares, and the issued capital stock from 1 Series A Dwiwarna and
20,159,999,279 Series B shares to 1 Series A Dwiwarna and 100,799,996,399 Series
B shares. After the stock split, each ADS represented 200 Series B shares</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (Note 20).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">On May 16 and June 5,
2014, the Company deregistered from </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Tokyo Stock Exchange (&#8220;TSE&#8221;) and
delisted from the LSE</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,
respectively</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December 3</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, all of the
Company&#8217;s Series B shares are listed on the IDX and </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">40,806,810&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> ADS shares are
listed on the NYSE (Note </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">20</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">).&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">On </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">June 25</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">0, the Company issued
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">the
second rupiah bonds </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">with
a nominal amount of Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,005&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion for Series A, a five-year period, and Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,995&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion for Series
B, a ten-year period, respectively, which are listed on the IDX (Note </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">18b</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">).&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">On</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> June 16,
2015, the Company issued Continuous Bond I Telkom Phase I 2015, with a nominal
amount </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">of
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Rp2,200
billion for Series A, a seven-year period, Rp2,100 billion for Series B, a
ten-year period, Rp1,200 billion for Series C</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> a fifteen-year
period</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and Rp1,500
billion for Series D</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> a
thirty-year period, re</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">pectively, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">which </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">are listed on
the IDX (Note 18b).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">On December
21, 2015, the Company </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">has
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">sold
the remaining shares of </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">t</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">reasury </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">tock phase
III (Note 22).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=DE style="font-size:10.0pt;">1.&#160; GENERAL
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=DE style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:13.5pt;text-align:justify;"><b><font face=Arial,sans-serif lang=DE style="font-size:10.0pt;">d.&#160; Subsidiaries</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:13.5pt;text-align:justify;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, the Company has
consolidated the following directly or indirectly owned subsidiaries (Notes 2b
and 2d):</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:13.5pt;text-align:justify;"><b><font face=Arial,sans-serif lang=DE style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;text-indent:-.5in;"><b><i><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">(i)</font></i></b><b><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;"> </font></i></b><b><i><u><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">Direct
subsidiaries</font></u></i></b><b><i><u><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">:&nbsp;</font></u></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><b><i><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;text-decoration:none;">&nbsp;</font></i></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:27.0pt;width:96.76%;">
 <tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Year of s</font></b><b><font face=Arial,sans-serif style="font-size:7.0pt;">tart of</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Percentage of
  ownership interest</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Total assets
  before elimination</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Subsidiary/place
  of incorporation</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Nature of
  business</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">commercial
  operations</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Telekomunikasi Selular (</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8220;Telkomsel&#8221;</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">), Jakarta,
  Indonesia</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Telecommunication - provides telecommunication facilities
  and mobile cellular services using Global Systems </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">for&nbsp;</font><font face=Arial,sans-serif style="font-size:7.0pt;">
  Mobile Communication (&#8220;GSM&#8221;) technology</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">1995</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">65</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">65</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">78,0</font><font face=Arial,sans-serif style="font-size:7.0pt;">80&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">83,</font><font face=Arial,sans-serif style="font-size:7.0pt;">695&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Dayamitra Telekomunikasi (</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8220;Dayamitra&#8221;</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">),
  Jakarta, Indonesia</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Telecommunication</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">1995</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">8,836</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">9,341</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Multimedia Nusantara (</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8220;Metra&#8221;</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">), Jakarta,
  Indonesia</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Network</font><font face=Arial,sans-serif style="font-size:7.0pt;"> telecommunication services</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;"> and multimedia</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">1998</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">6,2</font><font face=Arial,sans-serif style="font-size:7.0pt;">36&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">8,543</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Telekomunikasi </font><font face=Arial,sans-serif lang=IT style="font-size:7.0pt;">Indonesia International (</font><b><font face=Arial,sans-serif lang=IT style="font-size:7.0pt;">&#8220;TII&#8221;</font></b><font face=Arial,sans-serif lang=IT style="font-size:7.0pt;">),
  Jakarta, Indonesia</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Telecommunication</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">1995</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">4,549</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5,604</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Telkom Akses (</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8220;Telkom Akses&#8221;</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">), Jakarta,
  Indonesia</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Construction, service and trade in the field of </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">t</font><font face=Arial,sans-serif style="font-size:7.0pt;">elecommunication&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">2013</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2,089</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">3,696</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Graha Sarana Duta (</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8220;GSD&#8221;</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">), Jakarta, Indonesia</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Leasing of offices and providing building management and
  maintenance services, civil consultant and developer</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">1982</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.99</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">99.99</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2,30</font><font face=Arial,sans-serif style="font-size:7.0pt;">8&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">3,576</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IT style="font-size:7.0pt;">PT </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">PINS Indonesia </font><font face=Arial,sans-serif lang=IT style="font-size:7.0pt;">(</font><b><font face=Arial,sans-serif lang=IT style="font-size:7.0pt;">&#8220;</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">PINS</font></b><b><font face=Arial,sans-serif lang=IT style="font-size:7.0pt;">&#8221;</font></b><font face=Arial,sans-serif lang=IT style="font-size:7.0pt;">);&nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;"> previously PT Pramindo Ikat Nusantara</font><font face=Arial,sans-serif style="font-size:7.0pt;">, </font><font face=Arial,sans-serif lang=IT style="font-size:7.0pt;">Jakarta, Indonesia</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IT style="font-size:7.0pt;">Telecommunication construction and services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IT style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif lang=IT style="font-size:7.0pt;">1995</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IT style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">3,1</font><font face=Arial,sans-serif style="font-size:7.0pt;">30&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2,960</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Patra Telekomunikasi Indonesia (&#8220;</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">Patrakom</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8221;),
  Jakarta, Indonesia</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Telecommunication </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-&nbsp;</font><font face=Arial,sans-serif style="font-size:7.0pt;"> provides </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">satellite&nbsp;</font><font face=Arial,sans-serif style="font-size:7.0pt;"> communication system</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">, services and
  facilities</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">1996</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">34</font><font face=Arial,sans-serif style="font-size:7.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">471</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Infrastruktur Telekomunikasi</font><font face=Arial,sans-serif style="font-size:7.0pt;"> Indonesia </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(&#8220;</font><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Telkom Infratel</font></b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&#8221;)</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">,
  </font></b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Jakarta, Indonesia</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Construction, service and trade in the field of
  telecommunication</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2014</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">331</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">647</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Napsindo Primatel Internasional (</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8220;Napsindo&#8221;</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">),
  Jakarta, Indonesia</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Telecommunication - provides Network Access Point (NAP),
  Voice Over Data (VOD) and other related services</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">1999; ceased
  operations on January 13, 2006</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">60</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">60</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_176"></a><a name="_bclPageBorder176"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader176"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.7pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.&#160;&#160; GENERAL (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-16.4pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">d.&#160;&#160; Subsidiaries
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:80.6pt;margin-right:0in;margin-top:0in;text-indent:-43.9pt;"><b><i><font face=arial,sans-serif lang=IN style="font-size:7.0pt;line-height:normal;">(ii)</font></i></b><b><i><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp; </font></i></b><b><i><u><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;line-height:normal;">Immediate&nbsp;</font></u></i></b><b><i><u><font face=arial,sans-serif lang=IN style="font-size:7.0pt;line-height:normal;"> ind</font></u></i></b><b><i><u><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;line-height:normal;">irect subsidiaries</font></u></i></b><b><i><u><font face=arial,sans-serif lang=IN style="font-size:7.0pt;line-height:normal;">:&nbsp;</font></u></i></b></p>

<p style="margin-bottom:.0001pt;margin-left:80.6pt;margin-right:0in;margin-top:0in;"><b><i><font face=arial,sans-serif lang=IN style="font-size:7.0pt;line-height:normal;text-decoration:none;">&nbsp;</font></i></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Year of s</font></b><b><font face=Arial,sans-serif style="font-size:7.0pt;">tart
  of</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Percentage of
  ownership interest</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Total assets before
  elimination</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Subsidiary/place
  of incorporation</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Nature of
  business</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">commercial
  operations</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Sigma Cipta Caraka (</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8220;Sigma&#8221;</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">), Tangerang,
  Indonesia</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Information technology service - system implementation
  and integration service, outsourcing and software license maintenance</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">19</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">8</font><font face=Arial,sans-serif style="font-size:7.0pt;">8&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2,5</font><font face=Arial,sans-serif style="font-size:7.0pt;">1</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">3,</font><font face=Arial,sans-serif style="font-size:7.0pt;">683&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Infomedia Nusantara (</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8220;Infomedia&#8221;</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">), Jakarta,
  Indonesia</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Data and information service - provides telecommunication
  information services and other information services in the form of print and
  electronic media and call center services</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">1984</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1,354</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1,6</font><font face=Arial,sans-serif style="font-size:7.0pt;">64&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Telekomunikasi Indonesia International Pte. Ltd.,
  Singapore</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Telecommunication</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">2008</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1,058</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1,6</font><font face=Arial,sans-serif style="font-size:7.0pt;">25&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Telkom Landmark Tower (&#8220;</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">TLT</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8221;), Jakarta,
  Indonesia</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Service for property development and management</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">2012</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">55</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">55</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">828</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1,245</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Telekomunikasi Indonesia International S.A. (&#8220;</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">TL&#8221;</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">),
  Timor Leste</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Telecommunication</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">2012</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">832</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">854</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Metra Digital Media (&#8220;</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">MD M</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">edia</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8221;), Jakarta, Indonesia</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Directory information services</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">2013</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.99</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.99</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">723</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">61</font><font face=Arial,sans-serif style="font-size:7.0pt;">0&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Finnet Indonesia (&#8220;</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">Finnet</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8221;), </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Jakarta,
  </font><font face=Arial,sans-serif style="font-size:7.0pt;">Indonesia&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Information technology services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">2006</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">60</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">60</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">208</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">513</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Telekomunikasi Indonesia International Ltd., Hong Kong</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Telecommunication</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">2010</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">242</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">326</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Telekomunikasi Indonesia Internasional Pty. Ltd. </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(&#8220;</font><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Telkom Australia</font></b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&#8221;)</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">, </font></b><font face=Arial,sans-serif style="font-size:7.0pt;">Australia&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Telecommunication</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">2013</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">190</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">235</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Nusantara Sukses Investasi (</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8221;NSI&#8221;</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">), Jakarta,</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;"> Indonesia</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Service and trading</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">2014</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.99</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.99</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">115</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">165</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Administrasi Medika (&#8220;</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">Ad Medika</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8221;), Jakarta,
  Indonesia</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Health insurance administration services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">2002</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">75</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">75</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">136</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">160</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Graha Yasa Selaras (&#8220;</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">GYS</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8221;), </font><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">Jakarta,
  Indonesia</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Tourism service</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">201</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">51</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">51</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">88</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">160</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_177"></a><a name="_bclPageBorder177"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader177"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=DE style="font-size:10.0pt;">1.&#160; GENERAL
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-16.4pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">d.&#160;&#160; Subsidiaries
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:81.0pt;margin-right:0in;margin-top:0in;text-indent:-45.0pt;"><b><i><font face=arial,sans-serif lang=IN style="font-size:7.0pt;line-height:normal;">(ii)</font></i></b><b><i><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:normal;">&nbsp; </font></i></b><b><i><u><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;line-height:normal;">Immediate i</font></u></i></b><b><i><u><font face=arial,sans-serif lang=IN style="font-size:7.0pt;line-height:normal;">nd</font></u></i></b><b><i><u><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;line-height:normal;">irect subsidiaries:
(continued)</font></u></i></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Year of s</font></b><b><font face=Arial,sans-serif style="font-size:7.0pt;">tart of</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Percentage of ownership
  interest</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Total assets before
  elimination</font></b></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Subsidiary/place of
  incorporation</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Nature of business</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">commercial operations</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5&nbsp;</font></b></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Metra Plasa (&#8220;</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">Metra
  Plasa</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8221;), Jakarta, Indonesia</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Network </font><font face=Arial,sans-serif style="font-size:7.0pt;">and </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">e-commerce&nbsp;</font><font face=Arial,sans-serif style="font-size:7.0pt;"> services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">2012</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">60</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">60</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">88</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">85</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT MetraNet (&#8220;</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">MetraNet</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8221;),
  Jakarta, Indonesia</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Multimedia portal service</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">2009</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.99</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.99</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">42</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">66</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Telekomunikasi Indonesia
  International Inc. (</font><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&#8220;Telkom </font></b><b><font face=Arial,sans-serif style="font-size:7.0pt;">USA</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&#8221;</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">), USA</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Telecommunication</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">2014</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">52</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Sarana Usaha Sejahtera
  Insanpalapa (</font><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&#8220;Telko</font></b><b><font face=Arial,sans-serif style="font-size:7.0pt;">Medika</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&#8221;</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">), Jakarta, Indonesia*</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Health services</font><font face=Arial,sans-serif style="font-size:7.0pt;">, </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">medicine
  services including pharmacies, labolatories
  and other health care support</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">2008</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">75</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">49</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Pojok Celebes Mandiri (&#8220;</font><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">PCM</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8221;),
  Jakarta, Indonesia</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Tour agent/bureau services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">2008</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">51</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">51</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">13</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">18</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Satelit Multimedia
  Indonesia (&#8220;</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">SMI</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8221;), </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Jakarta,
  Indonesia</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Satellite </font><font face=Arial,sans-serif style="font-size:7.0pt;">s</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">ervice&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">2013</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.99</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.99</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">7</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">13</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Metra Digital </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Investama&nbsp;</font><font face=Arial,sans-serif style="font-size:7.0pt;">
  (&#8220;</font><b><font face=Arial,sans-serif style="font-size:7.0pt;">MDI</font></b><font face=Arial,sans-serif style="font-size:7.0pt;">&#8221;); </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">previously PT
  Metra Media</font><font face=Arial,sans-serif style="font-size:7.0pt;">, Jakarta,
  Indonesia</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Trading and/or providing
  service related to information and technology, multimedia, entertainment and
  investments</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">2013</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.99</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.99</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">4</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">PT Metra TV </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(&#8220;</font><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Metra TV</font></b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&#8221;), Jakarta,
  Indonesia</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Subscription - broadcasting
  </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">services&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.83</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.83</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">PT Nusantara Sukses
  Sarana (</font><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&#8221;NSS&#8221;</font></b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font><font face=Arial,sans-serif style="font-size:7.0pt;">, </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Jakarta,&nbsp;</font><font face=Arial,sans-serif style="font-size:7.0pt;">
  Indonesia</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:8.0pt;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Building and hotel </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">management services</font><font face=Arial,sans-serif style="font-size:7.0pt;">, and other services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.99</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.99</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">0</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=top width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">PT Nusantara</font><font face=Arial,sans-serif style="font-size:7.0pt;"> Sukses Realti </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(</font><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&#8221;NSR&#8221;</font></b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font><font face=Arial,sans-serif style="font-size:7.0pt;">, </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Jakarta</font><i><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">, </font></i><font face=Arial,sans-serif style="font-size:7.0pt;">Indonesia&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Service </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">and </font><font face=Arial,sans-serif style="font-size:7.0pt;">trading&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.99</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">99.99</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">0</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-indent:-7.05pt;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">* On November 30, 2015,
Metra acquired 75% ownership of TelkoMedika</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_178"></a><a name="_bclPageBorder178"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.7pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.&#160;&#160; GENERAL
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-16.4pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">d.&#160;&#160; Subsidiaries
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(a)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Metra&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">On June 5, 2014,
based on the Circular Resolution of the Stockholders as covered by notarial
deed No. 18 of N.M. Dipo Nusantara Pua Upa, S.H., M.Kn., which was approved by
the MoLHR through its Letter No. AHU-03769.40.20.2014 dated June 10, 2014, PT
Metra Media&#8217;s stockholders approved the change of name from PT Metra Media to
PT Metra Digital Investama (&#8220;MDI&#8221;).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">On December 12, 2014,
based on the Circular Resolution of the Stockholders of Metra as covered by
notarial deed No. 24 dated December 12, 2014 of N.M. Dipo Nusantara Pua Upa,
S.H., M.Kn., which has been approved by the MoLHR through its Letter No.
AHU-09792.40.21.2014 dated December 17, 2014, Metra&#8217;s stockholders approved an
increase in its authorized capital to 350,000,000 shares, amounting to Rp3.5
trillion which was taken proportionately by each of the s</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">tock</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">holders and
approved an increase in its issued and paid capital to 273,307,349 shares
amounting to Rp2.7 trillion.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">On November 30, 2015,
Metra acquired 13,850 shares of TelkoMedika (equ</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ivalent&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> to 75% ownership)
with acquisition cost amounting to Rp69.5 billion. TelkoMedika engaged in
health services, procurement and medicin</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">al&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> services, including the establishment of
pharmacies, hospital, clinic, or other healthcare support.</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> Metra acquired
TelkoMedika because it expands the range of products and services in the
corporate segment that can be offered to its customers.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(b)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Sigma&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Sigma has amended its
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Articles
of Association</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
several times, the latest am</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">e</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">ndment of which was notarized&#160; by deed No. 02 dated
December 4, 2014 of Utiek Rochmuljati Abdurachman, S.H., M.LI., M.Kn.,
regarding the changes in the authorized capital stock and the issued and fully
paid capital stock. The latest amandment of the Articles of Association was approved
by MoLHR through its Letter No. AHU-12707.40.20.2014 dated December 11, 2014.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Based on notarial
deed No. 09 dated December 18, 2015 of Utiek Rochmuljati Abdurachman, S.H.,
M.LI, M.Kn., approved by MoLHR through its decision letter No. AHU-AH.01.03-09904427
dated December 22, 2015, Sigma bought 55% ownership </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">in&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> PT Media
Nusantara Data Global (&#8220;MNDG&#8221;), which is engaged in data center services. Sigma
acquired MNDG to enlarge the capacity of its data centers that can be offered
to its customers. </font></p>

<p style="margin-bottom:0in;margin-left:54.6pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">The acquisition cost
amount</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ed&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> to Rp45
billion and the fair value of identifiable net assets amount</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ed&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> to Rp30
billion resulting </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">in
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">a
goodwill of Rp15 billion (Note 13). The goodwill </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">represents&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> the fair value of
expected synergies arising from </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">acquisition.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(c)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Dayamitra&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:4.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Regarding the
Conditional Shares Exchange Agreement (&#8220;CSEA&#8221;) with PT Tower Bersama
Infrastructure Tbk (&#8220;TBI&#8221;), the transaction was terminated by the Company due
to non</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">-</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">fulfillment
of the terms stated in the CSEA.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.&#160;&#160;&#160; GENERAL (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-16.4pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">d.&#160;&#160; Subsidiaries
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (d)&#160;&#160; Telkom
Infratel</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.6pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">On
January </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">16</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, 2014, the Company
established a wholly</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">owned
subsidiary under the name PT Telkom Infrastruktur Telekomunikasi Indonesia </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(&#8220;Telkom
Infratel&#8221;) </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">which
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">was&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> approved by the
MoLHR through its Decision Letter </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">No. AHU-0</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3196</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.AH.0</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.0</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.201</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> dated </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">January 23</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, 201</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> with 100%
ownership.</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
Telkom Infratel is engaged in providing construction</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">,&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> service and </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">trade in the
field of telecommunication</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (e)&#160;&#160; GSD</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.35pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">On August 27,
2014, based on notarial deed No. 21 dated August 27, 2014 of Zulkifli Harahap,
S.H., which was approved by the MoLHR in its Letter No. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">AHU-22722.40.10.2014&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> dated </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">September 1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, 2014, GSD
established a subsidiary, PT Nusantara Sukses Sarana (&#8220;NSS&#8221;) with 99.99%
ownership. NSS is engaged in </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">building and hotel </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">management&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> service</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">and other service</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s. As of th</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">e </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">date of approval and authorization for the issuance</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> of the</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">se&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> consolidated
financial statements, NSS has not commenced operational activities.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.35pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">On August 27,
2014, based on notarial deed No. 22 dated August 27, 2014 of Zulkifli Harahap,
S.H., which was approved by the MoLHR in its Letter No. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">AHU-2272</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.40.10.2014&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> dated </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">September 1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, 2014, GSD
established a subsidiary, PT Nusantara Sukses Realti (&#8220;NSR&#8221;) with 99.99%
ownership. NSR is engaged in service and trading. As of th</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">e </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">date of approval and authorization for the issuance</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> of the</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">se&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> consolidated
financial statements, NSR has not commenced operational activities.</font></p>

<p style="margin-bottom:.0001pt;margin-left:55.35pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.35pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">On August 27,
2014, based on notarial deed No. 23 dated August 27, 2014 of Zulkifli Harahap,
S.H., which was approved by the MoLHR in its Letter No. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">AHU-2272</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.40.10.2014&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> dated </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">September 1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, 2014, GSD
established a subsidiary, PT Nusantara Sukses Investasi (&#8220;NSI&#8221;) with 99.99%
ownership. NSI is engaged in service and trading.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-17.55pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(f)&#160;&#160; </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">T</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">II&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-17.55pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">On May 19, 2015, Pachub
Acquisition Co was incorporated, with Telekomunikasi Indonesia International </font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Inc. </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(USA) </font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Telkom USA) </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">obtaining 100% direct ownership.</font></p>

<p style="margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-2.7pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">On May 29, 2015, Telkom USA
and Pachub Acquisition Co entered into an agreement and plan of merger with AP
Teleguam Holdings, Inc. As of the date of</font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> approval and authorization for</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> the issuance of these
consolidated financial statements, the plan of merger is still being evaluated
by the local authorities</font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">
(United States)</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; e.&#160;&#160; Authorization for the issuance of
the consolidated financial statements</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:36.9pt;text-align:justify;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">The
consolidated financial statements were approved for issuance by
the Board of Directors on March </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">31, 2016.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>




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<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.&#160;&#160; SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:18.9pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
consolidated financial statements of the Company and subsidiaries (collectively
referred to as &#8220;the Group&#8221;) have been prepared in accordance with </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">International
Financial Reporting Standards (&#8220;</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRS</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#8221;)&nbsp;</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> as
issued by the </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">International Accounting Standards Board (&#8220;</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">IASB</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#8221;)</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:37.1pt;text-align:justify;text-indent:-18.9pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&#160;&#160;&#160; Basis
of preparation of the financial statements</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The consolidated financial statements, except for the consolidated
statements of cash flows, are prepared on the accrual basis. The measurement
basis used is historical cost, except</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;"> for</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> certain
accounts which are measured using the basis mentioned in the relevant notes
herein.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The consolidated statements of cash flows are prepared using the
direct method and present the changes in cash and cash equivalents classified
into operating, investing and financing activities.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.&#160;&#160; Principles of
consolidation</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
consolidated financial statements consist of the financial statements of the
Company and the subsidiaries over which it has control. Control is achieved
when the Group is exposed, or has rights, to variable returns from its
involvement with the investee and has the ability to affect those returns
through its power over the investee. Specifically, the Group controls an
investee if and only if the Group has the power over the investee, exposure or
rights, to variable returns from its involvement with the investee, and the
ability to use its power over the investee to affect its returns.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group
re-assesses whether it controls an investee if facts and circumstances indicate
that there are changes to one or more of the three elements of control.
Consolidation of a subsidiary begins when the Group obtains control over the
subsidiary and ceases when the Group loses control over the subsidiary. Assets,
liabilities, income and expenses, of a subsidiary acquired or disposed of
during the year are included in the consolidated </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">tatements of profit
or loss and other comprehensive income from the date the Group gains control
until the date the Group ceases to control the subsidiary.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Profit or
loss and each component of other comprehensive income (&#8220;OCI&#8221;) are attributed to
the equity holders of the Company and to the non-controlling interests, even if
this results in the non-controlling interests having a deficit balance.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Intercompany
balances and transactions have been eliminated in the consolidated financial
statements.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:22.5pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:22.5pt;text-align:justify;text-indent:13.5pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
case of loss of control over a subsidiary, the Group:</font></p>

<p style="margin-bottom:.0001pt;margin-left:49.05pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-11.25pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">derecognizes
the assets (including goodwill) and liabilities of the subsidiary at the
carrying amounts on the date when it loses control;</font></p>

<p style="margin-bottom:.0001pt;margin-left:49.05pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-11.25pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">derecognizes
the carrying amounts of any non-controlling interests of its former subsidiary
on the date when it loses control;</font></p>

<p style="margin-bottom:.0001pt;margin-left:49.05pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-11.25pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">recognizes
the fair value of the consideration received (if any) from the transaction,
events, or condition that caused the loss of control;</font></p>

<p style="margin-bottom:.0001pt;margin-left:49.05pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-11.25pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">recognizes
the fair value of any investment retained in the subsidiary at fair value on
the date of loss of control;</font></p>

<p style="margin-bottom:.0001pt;margin-left:49.05pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-11.25pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">recognizes
any surplus or deficit in profit or loss that is attributable to the Group.</font></p>

<p style="margin-bottom:.0001pt;margin-left:49.05pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:19.8pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">2.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">c.&#160;&#160; Transactions
with related parties</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group
has transactions with related parties. The definition of related parties used
is in accordance with International Accounting Standards (IAS) 24, Related
Party Disclosures. The party which is considered a related party is a person or
entity that is related to the entity that is preparing its financial
statements.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.0pt;text-align:justify;text-indent:-16.8pt;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Key management
personnel are identified as the persons having authority and responsibility for
planning, directing and controlling the activities of the entity, directly or indirectly,
including any director (whether executive or otherwise) of the Group. The
related party status extends to the key management of the subsidiaries to the
extent they direct the operations of subsidiaries with minimal involvement from
the Company&#8217;s management.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.0pt;text-align:justify;text-indent:-16.8pt;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.0pt;text-align:justify;text-indent:-16.8pt;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">d.&#160;&#160; Business combinations</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.0pt;text-align:justify;text-indent:-15.0pt;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Business combination
is accounted for using the acquisition method. The consideration transferred is
measured at fair value, which is the aggregate of the fair value of the assets
transferred, liabilities incurred or assumed and the equity instruments issued
in exchange for control of the acquiree. For each business combination,
non-controlling interest is measured at fair value or at the proportionate
share of the acquiree&#8217;s identifiable net assets. The choice of measurement
basis is made on a transaction-by-transaction basis. Acquisition-related costs
are expensed as incurred. The acquiree&#8217;s identifiable assets and liabilities
are recognized at their fair values at the acquisition date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Goodwill
is initially measured at cost, being the excess of the aggregate of the
consideration transferred and the amount recognized for non-controlling
interests, and any previous interest held, over the net identifiable assets
acquired and liabilities assumed. If the fair value of the net assets acquired
is in excess of the aggregate consideration transferred, the Group re-assesses
whether it has correctly identified all of the assets acquired and all of the
liabilities assumed and reviews the procedures used to measure the amounts to
be recognized at the acquisition date. If the re-assessment still results in an
excess of the fair value of net assets acquired over the aggregate
consideration transferred, then the gain is recognized in profit or loss.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">When the
determination of consideration from a business combination includes contingent
consideration, it is measured at its fair value on acquisition date. Contingent
consideration is classified either as equity or a financial liability. Amounts
classified as a financial liability are subsequently remeasured to fair value
with changes in fair value recognized in profit or loss when adjustments are
recorded outside the measurement period. Changes in the fair value of the
contingent consideration that qualify as measurement-period adjustments are
adjusted retrospectively, with corresponding adjustments made against goodwill.
Measurement-period adjustments are adjustments that arise from additional
information obtained during the measurement period, which cannot exceed one
year from the acquisition date, about facts and circumstances that existed at
the acquisition date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">In a business combination achieved in stages, the acquirer
remeasures its previously held equity interest in the acquiree at its
acquisition-date fair value and recognizes the resulting gain or loss, if any,
in profit or loss.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.&#160;&#160; SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">e.&#160;&#160; Cash and cash equivalents</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Cash and
cash equivalents comprises cash on hand and in banks and all unrestricted time
deposits with original maturities of three months or less at the time of
placement. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Time
deposits with maturities of more than three months but not more than one year
are presented as part of &#8220;Other Current Financial Assets&#8221;</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;"> in the
consolidated statements of financial position.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">f.&#160;&#160;&#160; Investments in associated companies</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">An associate is an
entity over which the Group (as investor) has significant influence.
Significant influence is the power to participate in the financial and
operating policy decisions of the investee, but does not include control or
joint control over those operating policies. The considerations made in
determining significant influence are similar to those necessary to determine
control over subsidiaries. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; The Group&#8217;s
investments in its associates are accounted for using the equity method. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Under the equity
method, the investment in an associate is initially recognized at cost. The
carrying amount of the investment is adjusted to recognize changes in the
investor&#8217;s share of the net assets of the associate since the acquisition date.
On acquisition of the investment, any difference between the cost of the
investment and the entity's share of the net fair value of the investee's
identifiable assets and liabilities is accounted for as follows: </font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Goodwill
relating to an associate or a joint venture is included in the carrying amount
of the investment and is neither amortized nor individually tested for
impairment. </font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Any
excess of the entity's share of the net fair value of the investee's
identifiable assets and liabilities over the cost of the investment is included
as income in the determination of the entity's share of the associate or joint
venture's profit or loss in the period in which the investment is acquired.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The consolidated </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">tatements of profit
or loss and other comprehensive income reflect the Group&#8217;s share of the results
of operations of the associate. Any change in the other comprehensive income of
the associate is presented as part of other comprehensive income. In addition,
when there has been a change recognized directly in the equity of the
associate, the Group recognizes its share of the change in the consolidated
statements of changes in equity. Unrealized gain and losses resulting from
transactions between the Group and the associate are eliminated to the extent
of the interest in the associate.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group determines
at each reporting date whether there is any objective evidence that the
investments in associated companies are impaired. If there is, the Group
calculates and recognizes the amount of impairment as the difference between
the recoverable amount of the investments in the associated companies and their
carrying value. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">These assets are
included in &#8220;Long-term Investments&#8221; in the consolidated statements of financial
position.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2. </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES</font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">f.&#160;&#160;&#160; Investments in associated companies (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The functional
currency of PT Citra Sari Makmur (&#8220;CSM&#8221;) is the United States dollar (&#8220;U.S.
dollars&#8221;), and Telin Malaysia is the Malaysian ringgit (&#8220;MYR&#8221;). For the purpose
of reporting these investments using the equity method, the assets and
liabilities of these companies as of the statement</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> of financial
position date are translated into Indonesian rupiah using the rate of exchange
prevailing at that date, while revenues and expenses are translated into
Indonesian rupiah at the average rates of exchange for the year. The resulting
translation adjustments are reported as part of &#8220;Other Reserves&#8221; in the equity
section of the consolidated statements of financial position.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">g.&#160;&#160; Trade
and other receivables</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Trade and other receivables are recognized initially at fair value
and subsequently measured at amortized cost, less provision for impairment.
This provision for impairment is made based on management&#8217;s evaluation of the
collectibility of the outstanding amounts. Receivables are written off in the
year they are determined to be uncollectible.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">h.&#160;&#160; Inventories</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:66.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Inventories
consist of components, which are subsequently expensed upon use. Components
represent telephone terminals, cables and other spare parts. Inventories also
include Subscriber Identification Module (&#8220;SIM&#8221;) cards, handsets, set top box</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">es</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, wireless broadband
modems and blank prepaid vouchers, which are expensed upon sale. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The costs
of inventories consist of the purchase price, import duties, other taxes,
transport, handling, and other costs directly attributable to their
acquisition. Inventories are recognized at the lower of cost and net realizable
value. Net realizable value is the estimate of selling price less the costs to
sell.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Cost is
determined using the weighted average method.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
amounts of any write-down of inventories </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">below cost </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">to net realizable
value and all losses of inventories are recognized as an expense in the period
in which the write-down or loss occurs. The amount of any reversal of any
write-down of inventories, arising from an increase in net realizable value, is
recognized as a reduction in the amount of general and administrative expenses
in the year in which the reversal occurs.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Provision
for obsolescence is primarily based on the estimated forecast of future usage
of these inventory items.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i.&#160;&#160;&#160; Prepaid
expenses</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><i><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Prepaid expenses are amortized over their future beneficial
periods using the straight-line method.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">j.&#160;&#160;&#160; Assets held for sale</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Assets (or disposal groups) are classified as held for sale when
their carrying amount is to be recovered principally through a sale transaction
rather than through continuing use and a sale is considered highly probable.
They are stated at the lower of carrying amount and fair value less costs to
sell.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">Assets that meet the criteria to be classified as held for sale
are reclassified from property and equipment and depreciation on such assets </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">is </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">cease</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">d.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_184"></a><a name="_bclPageBorder184"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader184"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.
</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES</font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
</font><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">k.&#160;&#160; Intangible
assets</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Intangible
assets </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">mainly
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">consist
of software. Intangible assets are recognized if it is highly probable that the
expected future economic benefits that are attributable to each asset will flow
to the Group,
and the
cost of the asset can be reliably measured. </font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Intangible
assets are stated at cost less accumulated amortization and impairment losses</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, if any</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. Intangible assets
are amortized over their estimated useful lives. The Group estimates the recoverable
value of its intangible assets. When the carrying amount of an intangible asset
exceeds its estimated recoverable amount, the asset is written down to its estimated
recoverable amount.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Intangible assets are
amortized using the straight-line method, based on the estimated useful lives
of the intangible assets as follows:</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=85% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:2.65pt;text-align:center;"><b><u><font color=black face=arial,sans-serif style="font-size:10.0pt;">Years</font></u></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:2.65pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">Software</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.55pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">3-</font><font color=black face=arial,sans-serif style="font-size:10.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">License</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.55pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">3-20</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font color=black face=arial,sans-serif style="font-size:10.0pt;">Other intangible assets</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.55pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font><font color=black face=arial,sans-serif style="font-size:10.0pt;">-</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">3</font><font color=black face=arial,sans-serif style="font-size:10.0pt;">0&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:0pt;margin-top:0in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Intangible assets are derecognized </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">on
disposal, or </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">when no further economic benefits are expected, either from
further use or from disposal. The difference between the carrying amount and
the net proceeds received from disposal is recognized in the consolidated
statement</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> of </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">profit or loss and other </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">comprehensive income. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">l.&#160;&#160;&#160; Property
and equipment </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Property and equipment are stated
at cost less accumulated depreciation and impairment losses.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The cost of an item of property and equipment includes: (a)
purchase price, (b) any costs directly attributable to bringing the asset to
its location and condition, and (c) the initial estimate of the costs of
dismantling and removing the item and restoring the site on which it is
located. Each part of an item of property and equipment with a cost that is
significant in relation to the total cost of the item is depreciated
separately. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Property
and equipment are depreciated or amortized using the straight-line method based
on the estimated useful lives of the assets as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font color=black face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=85% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;"><b><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:2.65pt;text-align:center;"><b><u><font color=black face=arial,sans-serif style="font-size:9.0pt;">Years</font></u></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:2.65pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">Land rights</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">50</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">Buildings</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">15-40</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">Leasehold improvements</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">2-15</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">Switching equipment</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">3-15</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">Telegraph, telex and data
  communication equipment</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">5-15</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">Transmission installation and
  equipment</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:9.0pt;">3</font><font color=black face=arial,sans-serif style="font-size:9.0pt;">-25&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">Satellite, earth station and
  equipment</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">3-20</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">Cable network</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">5-25</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">Power supply</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">3-20</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">Data processing equipment</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">3-20</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">Other telecommunications
  peripherals</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">5</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">Office equipment</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">2-5</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">Vehicles</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">4-8</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">Customer Premise</font><font color=black face=arial,sans-serif lang=IN style="font-size:9.0pt;">s&nbsp;</font><font color=black face=arial,sans-serif style="font-size:9.0pt;">
  Equipment (&#8220;CPE&#8221;) assets</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;text-align:center;"><font color=black face=arial,sans-serif lang=IN style="font-size:9.0pt;">4-5</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=85% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">Other equipment</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">2-5</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_185"></a><a name="_bclPageBorder185"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader185"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2. </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES</font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
</font><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">l.&#160;&#160;&#160; Property and equipment </font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Significant
expenditures related to leasehold improvements are capitalized and </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">depreciat</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">ed over the
lease term.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The depreciation
method, useful life and residual value of an asset are reviewed at least at
each financial year-end and adjusted, if appropriate. </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">The residual value of
an asset is the estimate</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">d&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> amount that
t</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">he
Group</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
would currently obtain from disposal of the asset, after deducting the
estimated costs of disposal, if the asset is already of the age and in the
condition expected at the end of its useful life.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.55pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Property and equipment acquired in exchange for a non-monetary
asset or for a combination of monetary and non-monetary assets are measured at
fair value unless</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">,&nbsp;</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (i) the exchange transaction
lacks commercial substance; or (ii) the fair value of neither the asset
received nor the asset given up is reliably measurable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Major spare parts and standby equipment that are expected to be
used for more than 12 months are recorded as part of property and equipment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">When assets are retired or otherwise disposed of, their cost and
the related accumulated depreciation are derecognized from the consolidated
statements of financial position and the resulting gain</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> or
losses on the disposal or sale of the property and equipment are recognized in
the consolidated statement</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> of </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">profit or
loss and other </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">comprehensive income.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Certain computer hardware can not be used without the
availability of certain computer software. In such circumstance, the computer
software is recorded as part of the computer hardware. If the computer software
is independent from its computer hardware, it is recorded as part of intangible
assets.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The cost
of maintenance and repairs is charged to the consolidated </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">statement</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> of</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;"> profit
or loss and other </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">comprehensive income </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">as incurred. Significant renewals and
betterments are capitalized.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Property under construction is stated at cost until the
construction is completed, at which time it is reclassified to the property and
equipment account to which it relates. During the construction period until the
property is ready for its intended use or sale, borrowing costs, which include
interest expense and foreign currency exchange differences incurred on loans
obtained to finance the construction of the asset, as long as it meets the
definition of a qualifying asset are, capitalized in proportion to the average
amount of accumulated expenditures during the period. Capitalization of
borrowing cost ceases when the construction is completed and the asset is ready
for its intended use.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.85pt;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">m.&#160; Leases </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">In determining whether an
arrangement is, or contains a lease, the Group performs an evaluation over the
substance of the arrangement. A lease is classified as a finance lease or
operating lease based on the substance, not the form of the contract. </font><font color=black face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Finance lease is recognized if the lease transfers
substantially all the risks and rewards incidental to the ownership of the
leased asset.</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;"><font color=black face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2. </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES</font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.85pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.85pt;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">m.&#160; Leases </font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.85pt;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=black face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Assets and
liabilities under a finance lease are recognized in the consolidated statements
of financial position at amounts equal to the fair value of the leased assets
or, if lower, the present value of the minimum lease payments. Any initial
direct costs of the Group are added to the amount recognized as assets.</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=black face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=black face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Minimum lease
payments are apportioned between the finance charge and the reduction of the
outstanding liability. The finance charge is allocated to each period during
the lease term so as to produce a constant periodic rate of interest on the
remaining balance of the liability. Contingent rents are charged as expenses in
the year in which they are incurred.</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=black face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Leased assets are depreciated using the same method and based on
the useful lives as estimated for directly acquired property and equipment.
However, if there is no reasonable certainty that the Group will obtain
ownership by the end of the lease term</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">s</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, the
leased assets are fully depreciated over the shorter of the lease terms and
their economic useful lives.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Lease arrangements that do not meet the above criteria are
accounted for as operating leases for which payments are charged as an expense
on the straight-line basis over the lease period.</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=black face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">n.&#160;&#160; </font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">Trade payables</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Trade
payables are obligations to pay for goods or services that have been acquired
from suppliers in the ordinary course of business. Trade payables are
classified as current liabilities if payment is due within one year or less. If
not, they are presented as non-current liabilities. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Trade
payables are recognized initially at fair value and subsequently measured at
amortized cost using the effective interest method.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">o.&#160;&#160; </font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">Borrowings&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Borrowings
are recognized initially at fair value, net of transaction costs incurred.
Borrowings are subsequently carried at amortized cost</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">;&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> any
difference between the proceeds (net of transaction costs) and the redemption value
is recognized in the consolidated statement</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> of </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">profit or loss and other</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> comprehensive income
over the period of the borrowings using the effective interest method.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Fees
paid on </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">obtaining&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> loan facilities are recognized as transaction costs of
the loan to the extent that it is probable that some or all of the facilit</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ies&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> will be
drawn down. In this case, the fee is deferred until the drawdown occurs. To the
extent there is no evidence that it is probable that some or all of the facilit</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ies&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> will be
drawn down, the fee is capitalized as a pre-payment for liquidity services and
amortized over the period of the facilit</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ies to </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">which </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">it&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> relates.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.
</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES</font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
</font><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">p.&#160;&#160; Foreign currency translations </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
functional currency and the reporting currency of the Group are both the
Indonesian rupiah, except for the functional currency of Telekomunikasi
Indonesia International Pte. Ltd., Hong Kong, Telekomunikasi Indonesia
International Pte. Ltd., Singapore, Telekomunikasi Indonesia International
Inc., USA and Telekomunikasi Indonesia International S.A., Timor Leste whose
accounting records </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">are </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">maintained in U.S. dollars</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and Telekomunikasi Indonesia
International, Pty. Ltd., </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Australia whose accounting records are
maintained in Australian dollars. Transactions in foreign currencies are
translated into Indonesian rupiah at the rates of exchange prevailing at
transaction date. At the consolidated statements of financial position dates,
monetary assets and liabilities denominated in foreign currencies are
translated into Indonesian rupiah based on the buy and sell rates quoted by
Reuters prevailing at the consolidated statements of financial position dates,
as follows (in full amount):</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=top width=34% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><b><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=32% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font color=black face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font color=black face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=32% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font color=black face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font color=black face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Buy</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Sell</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Buy</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Sell</font></b></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">United States dollar
  (&#8220;US$&#8221;) 1</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">12,380</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">12,390</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">13,780</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">13,790</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Australian dollar (&#8220;AUD&#8221;)
  1</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:57.0pt;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">10,143</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">10,155</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">10,076</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">10,092</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Euro 1</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">15,044</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">15,059</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">15,049</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">15,064</font></p>
  </td>
 <td width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=top width=34% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Yen 1</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">103.53</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">103.64</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">114.47</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">114.56</font></p>
  </td>
 <td width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The resulting foreign exchange gain or losses, realized and
unrealized, are credited or charged to the consolidated </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">tatements of profit
or loss and other comprehensive income</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, except for
foreign exchange differences incurred on borrowings during the construction of
qualifying assets which are capitalized to the extent that the borrowings can
be attributed to the construction of those qualifying assets (Note 2l).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-indent:-17.85pt;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-indent:-17.85pt;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">q.&#160;&#160; Revenue and expense recognition</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-indent:-14.2pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:10.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-20.7pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:97%;">i.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:97%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:97%;">Cellular
and fixed wireless telephone revenues </font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:97%;">Revenues from postpaid service, which consist of usage
and monthly charges, are recognized as follows:</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;line-height:97%;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:97%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:97%;">Airtime
and charges for value added services are recognized based on usage by
subscribers.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:10.0pt;line-height:97%;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:97%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:97%;">Monthly
subscription charges are recognized as revenues when incurred by subscribers.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:97%;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:97%;">Revenues from prepaid
service, which consist of the sale of starter packs (also known as SIM cards
and start-up load vouchers) and pulse reload vouchers, are recognized initially
as unearned income and recognized as revenue based on total of successful calls
made and the value added services used by the subscribers or the expiration of
the unused stored value of the voucher</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:97%;">.&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:97%;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.3pt;text-indent:-17.85pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ii.&#160;&#160;&#160; Fixed line telephone
revenues</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.3pt;text-indent:-17.85pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:97%;">Revenues from usage charges are recognized as customers
incur the charges. Monthly subscription charges are recognized as revenues when
incurred by subscribers.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:97%;">&nbsp;</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Revenues from fixed
line installations are deferred and recognized as revenue on the straight-line
basis over the expected term of the customer relationships. Based on reviews of
historical information and customer trends, the Company determined the term of
the customer relationships is 18 years.</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>




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<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.
</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES</font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.6pt;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-indent:-17.85pt;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">q.&#160;&#160; Revenue and expense recognition </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.3pt;text-align:justify;text-indent:-17.85pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">iii.&#160;&#160; Interconnection
revenues </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.3pt;text-align:justify;text-indent:-17.85pt;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.6pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Revenues from network
interconnection with other domestic and international telecommunications
carriers are recognized</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> monthly on the basis of the actual recorded traffic for
the month</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.
Interconnection revenues consist of revenues derived from other operators&#8217;
subscriber calls to the Group&#8217;s subscribers (incoming) and calls between
subscribers of other operators through the Group&#8217;s network (transit).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.6pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.55pt;text-align:justify;text-indent:-17.85pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">iv.&#160; Data, internet and information technology services revenues </font></p>

<p style="margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Revenues
from data communication and internet are recognized based on </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">service
activity and performance which </font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">are </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">measured by </font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">duration of
internet usage or based on the fixed amount </font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">charge</font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> depending on
the arrangements with customers.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Revenues
from sales, installation and implementation of computer software and hardware,
computer data network installation service and installation are recognized when
the goods are delivered to customers or the installation takes place. </font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Revenue from computer
software development service is recognized using the percentage-of-completion
method.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.55pt;text-align:justify;text-indent:-17.85pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">v.&#160;&#160; Network revenues</font></p>

<p style="margin-bottom:0in;margin-left:53.6pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font color=black face=arial,sans-serif lang=X-NONE style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Revenues
from network consist of revenues from leased lines and satellite transponder
leases which are recognized over the period in which the services are rendered</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.6pt;text-align:justify;"><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:53.55pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-17.85pt;"><font color=black face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">vi.&#160; Other telecommunications revenues</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font color=black face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Revenues
from sales of handsets or other telecommunications equipments are recognized
when delivered to customers. </font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Revenues
from tower lease are recognized on straight-line basis over the lease period in
accordance with the agreement with the customers.</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font color=#212121 face=arial,sans-serif lang=X-NONE style="background:white;font-size:10.0pt;">Revenues from other telecommunications services
are recognized when services are rendered to customers.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-17.85pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">vii.&#160; </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">Multiple-element arrangements</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-17.85pt;"><i><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">Where two or more revenue</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">-</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">generating
activities or deliverables are sold under a single arrangement, each
deliverable that is considered to be a separate unit of accounting is accounted
for separately. The total revenue is allocated to each separately identifiable
component based on the relative fair value of each component and the
appropriate revenue recognition criteria are applied to each component as
described above.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">viii. Agency relationship</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Revenues from an agency relationship are recorded based on the
gross amount billed to the customers when the Group acts as principal in the
sale of goods and services. Revenues are recorded based on the net amount
retained (the amount paid by the customer less amount paid to the suppliers)
when, in substance, the Group has acted as agent and earned commission from the
suppliers of the goods and services sold.</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>





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<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.&#160;&#160; SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.6pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.85pt;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">q.&#160;&#160; Revenue and expense recognition </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-17.85pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">x</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">Customer loyalty programme</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-17.85pt;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;text-autospace:ideograph-numeric;">The Group operates a loyalty
programme, which allows customers to accumulate points for every certain
multiple of the telecommunication services usage. The points can be rede</font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;text-autospace:ideograph-numeric;">e</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;text-autospace:ideograph-numeric;">med in the future for free or
discounted products or services, provided other qualifying conditions are
achieved.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;text-autospace:ideograph-numeric;">Consideration received is allocated
between the telecommunication services and the points issued, with the
consideration allocated to the points equal to their fair value. Fair value of
the points is determined based on historical information about redemption rate
of award points</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;text-autospace:ideograph-numeric;">.&nbsp;</font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;text-autospace:ideograph-numeric;"> Fair value of the points
issued is deferred and recognized as revenue when the points are redeemed or
expired. </font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-5.4pt;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;text-autospace:ideograph-numeric;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-17.85pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">x.&#160;&#160; Expenses</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-17.85pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-17.85pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; Expenses are recognized </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">as they are incurred.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">r.&#160;&#160;&#160; Employee benefits</font></b></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">i</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160;&#160; Short-term
employee benefits</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.6pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.6pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">All short-term
employee benefits which consist of salaries and related benefits, vacation pay,
incentives and other short-term benefits are recognized as expense on
undiscounted basis when employees have rendered service to the Group.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">i</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160;&#160; Post-employment
benefit plans and other long-term employee benefits </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Post-employment
benefit plans consist of funded and unfunded defined benefit pension plans,
defined contribution pension plan, other post-employment benefits,
post-employment health care benefit plan, defined contribution health care
benefit plan and obligations under the Labor Law. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Other long-term
employee benefits consist of Long Service Awards (&#8220;LSA&#8221;), Long Service Leave
(&#8220;LSL&#8221;), and pre-retirement benefits.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The cost of providing
benefits under post-employment benefit plans and other long-term employee
benefits calculation is performed by an independent actuary using the projected
unit credit method.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The net obligations
in respect of the defined pension benefit plans and post-retiremen</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">t </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">health care benefit
plan are calculated at the present value of estimated future benefits that the
employees have earned in return for their service in the current and prior
periods less the fair value of plan assets. The present value of the defined
benefit obligation is determined by discounting the estimated future cash
outflows using interest rates of Government bonds that are denominated in the
currencies in which the benefits will be paid and that have terms to maturity
approximating the terms of the related retirement benefit obligation.
Government bonds are used as there are no deep markets for high quality
corporate bonds.</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.&#160;&#160;
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">r.&#160;&#160;&#160; Employee
benefits (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ii.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Post-employment
benefit plans and other long-term employee benefits (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=#212121 face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Plan
assets are assets owned by defined benefit pension and post-retirement medical
benefits as well as </font><font color=#212121 face=arial,sans-serif lang=IN style="font-size:10.0pt;">qualifying&nbsp;</font><font color=#212121 face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> insurance policy. The
assets are measured at fair value </font><font color=#212121 face=arial,sans-serif lang=IN style="font-size:10.0pt;">as of reporting dates</font><font color=#212121 face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. The
fair value of </font><font color=#212121 face=arial,sans-serif lang=IN style="font-size:10.0pt;">qualifying </font><font color=#212121 face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">insurance policy is </font><font color=#212121 face=arial,sans-serif lang=IN style="font-size:10.0pt;">deemed
to be the present value of the related obligations (subject to any reduction
required if the amounts receivable under the insurance policies are not
recoverable in full).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Remeasurement,
comprising of actuarial gain and losses, the effect of the asset ceiling
(excluding amounts included in net interest on the net defined benefit
liability (asset)) and the return on plan assets (excluding amounts included in
net interest on the net defined benefit liability (asset)) are recognized
immediately in the consolidated statements of financial position with a
corresponding debit or credit to retained earnings through OCI in the period in
which they occur. Remeasurements are not reclassified to profit or loss in
subsequent periods.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">P</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ast </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">service costs
are recogni</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">z</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">ed
immediately in</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
profit or loss on the earlier of:</font></p>

<p style="margin-bottom:.0001pt;margin-left:67.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.35pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;layout-grid-mode:char;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">The date of plan
amendment or curtailment; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:67.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.35pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;layout-grid-mode:char;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">The date that the
Group recognized restructuring-related costs.</font></p>

<p style="margin-bottom:.0001pt;margin-left:54.15pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">Net
interest is calculated by applying the discount rate to the net defined benefit
liability or assets.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;layout-grid-mode:char;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Gain or
losses on curtailment are recognized when there is a commitment to make a
material reduction in the number of employees covered by a plan or when there
is an amendment of defined benefit plan terms such that a material element of future
services to be provided by current employees will no longer qualify for
benefits, or will qualify only for reduced benefits.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Gain or
losses on settlement are recognized when there is a transaction that eliminates
all further legal or constructive obligation for part or all of the benefits
provided under a defined benefit plan </font><font color=#212121 face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(other than
the payment of benefit in accordance with the program and included in the
actuarial assumptions).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">For defined
contribution plans, the regular contributions constitute net periodic costs for
the period in which they are due and, as such, are included in personnel
expenses as they become payable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">iii</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Share-based payments </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><i><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Company operates an equity-settled, share-based compensation plan. The fair
value of the employees&#8217; services rendered which are compensated with the
Company&#8217;s shares is recognized as an expense in the consolidated statement</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s of profit
or loss and other </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">comprehensive
income and credited to additional paid-in capital at the grant date.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">iv.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Early retirement benefits</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:normal;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Early
retirement benefits are accrued at the time the Company </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">and
subsidiaries </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">make a commitment to provide early retirement benefits as a result
of an offer made in order to encourage voluntary redundancy. A commitment to a
termination arises when, and only when a detailed formal plan for the early
retirement cannot be withdrawn.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>




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<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2. </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES</font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s.&#160;&#160; Income
tax</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">Current and deferred </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">income </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">tax</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">es are </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">recognized
as income or an expense and included in </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the consolidated statement</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s of profit
or loss and other </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">comprehensive
income</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">, except to the extent that the tax arises from a transaction or
event which is recognized directly in equity, </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">in which case, </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">the
tax </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">is&nbsp;</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;"> recognized directly </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">in&nbsp;</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;"> equity.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">C</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">urrent tax assets and liabilities are measured at the amount
expected to be recovered or paid using the tax rates and tax laws that have
been enacted at each reporting date. Management periodically evaluates
positions taken in tax returns with respect to situations in which applicable
tax regulation is subject to interpretation. Where appropriate, management
establishes provisions based on the amounts expected to be paid to the tax
authorities.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group recognizes deferred tax assets and liabilities for
temporary differences between the financial and tax bases of assets and
liabilities at each reporting date. The Group also recognizes deferred tax
assets resulting from the recognition of future tax benefits, such as the
benefit of tax losses carried forward to the extent their future realization is
probable. Deferred tax assets and liabilities are measured using enacted or
substantively enacted tax rates and tax laws at each reporting date which are
expected to apply to taxable income in the years in which those temporary
differences are expected to be recovered or settled.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
carrying amount of deferred tax asset is reviewed at the end of each reporting
period and reduced to the extent that it is no longer probable that sufficient
taxable income will be available to allow the benefit of part or all of that
deferred tax asset to be utilized.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Deferred
tax assets and liabilities are offset in the consolidated statements of financial
position, except if these are for different legal entities, in the same manner
the current tax assets and liabilities are presented.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:36.9pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amendment
to taxation obligation is recorded when an assessment letter (&#8220;Surat Ketetapan
Pajak&#8221; or &#8220;SKP&#8221;) is received or, if appealed against, when the results of the
appeal are determined. The additional taxes and penalty imposed through SKP are
recognized in the current year profit or loss, unless objection/appeal is
taken. The additional taxes and penalty imposed through SKP are deferred as
long as they meet the asset recognition criteria.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.8pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Final income
tax </font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">on&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> construction
services</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">
and lease
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">is&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> presented as
part of </font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">&#8220;O</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">ther </font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">E</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">xpenses</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">&#8221;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">t.&#160;&#160;&#160; Financial
instruments</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;text-indent:-20.3pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group classifies financial instruments into financial assets
and financial liabilities. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Financial assets and liabilities are recognized initially
at fair value including transaction costs. These are subsequently measured
either at fair value or amortized cost using the effective interest method in
accordance with their classification.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.3pt;text-align:justify;text-indent:-18.9pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i.&#160;&#160;&#160;&#160; Financial
assets</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;text-indent:-20.3pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.0pt;text-align:justify;text-indent:-.7pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group classifies its financial assets as (i) financial assets
at fair value through profit or loss, (ii) loans and receivables, (iii)
held-to-maturity investments or (iv) available-for-sale financial assets. The
classification depends on the purpose for which the financial assets are
acquired. Management determines the classification of financial assets at
initial recognition.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;text-indent:-1.7pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2. </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES</font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">t.&#160;&#160;&#160; Financial
instruments </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.3pt;text-align:justify;text-indent:-18.9pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i.&#160;&#160;&#160;&#160; Financial
assets (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.3pt;text-align:justify;text-indent:.7pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.3pt;text-align:justify;text-indent:.7pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Purchases or sales of financial assets that require delivery of
assets within a time frame established by regulation or convention in the
marketplace (regular way trades) are recognized on the trade date, i.e., the
date that the Group commits to purchase or sell the assets.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.3pt;text-align:justify;text-indent:.7pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.0pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">The
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Group</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#8217;s financial
assets include cash and cash equivalents</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, other current financial assets,</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> trade and
other receivables</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">and
other non-current assets.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&#160;&#160;&#160; Financial
assets at fair value through profit or loss </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:75.0pt;text-align:justify;text-indent:-20.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:1.05in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Financial
assets at fair value through profit or loss are financial assets classified as
held for trading. A financial asset is classified as held for trading if it is
acquired principally for the purpose of selling or repurchasing it in the near
term and for which there is evidence of a recent actual pattern of short-term
profit taking. Gains or losses arising from changes in fair value of the
trading securities are presented as other (expenses)/income in consolidated </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">tatement</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> of profit or loss
and other comprehensive income in the period in which they arise. Financial asset
measured at fair value through profit </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">or </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">loss consists of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">a </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">derivative asset-put
option, which is recognized as part of &#8220;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">O</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ther </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">C</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">urrent </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">F</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">inancial </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">A</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ssets&#8221;&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> in the
consolidated statements of financial position</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:75.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:75.0pt;text-align:justify;text-indent:-18.3pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Loans and receivables
</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:75.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:74.7pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Loans and
receivables are non-derivative financial assets with fixed or determinable
payments that are not quoted in an active market.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.3pt;text-align:justify;text-indent:-18.9pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:74.7pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Loans
and receivables consist of, among other </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">assets</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, cash and cash equivalents, other
current financial assets</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">trade and other receivables, and other
non-current assets</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (long-term trade receivables and restricted cash)</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:75.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:75.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">These are
initially recognized at fair value including transaction costs and subsequently
measured at amortized cost, using the effective interest method.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:75.0pt;text-align:justify;text-indent:-20.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">c.&#160;&#160;&#160; Held-to-maturity
investments </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:75.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Held-to-maturity
investments are non-derivative financial assets with fixed or determinable
payments and fixed maturities on which management has the positive intention
and ability to hold to maturity, other than:</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:90.45pt;text-align:justify;text-indent:-15.3pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">those
that the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Group,&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> upon initial
recognition, designates as at fair value through profit or loss;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:93.0pt;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">those
that the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Group&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> designates as
available-for-sale; and</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:93.0pt;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">c)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">those
that meet the definition of loans and receivables.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:75.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:75.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">No
financial assets were classified as held-to-maturity investments as of December
31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_193"></a><a name="_bclPageBorder193"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2. </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES</font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">t.&#160;&#160;&#160; Financial
instruments </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.3pt;text-align:justify;text-indent:-18.9pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i.&#160;&#160;&#160;&#160; Financial
assets (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:57.4pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">d.&#160;&#160; Available-for-sale
financial assets </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.05in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:75.15pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Available-for-sale
investments are non-derivative financial assets that are intended to be held
for indefinite periods of time, which may be sold in response to needs for
liquidity or changes in interest rates, exchange rates or that are not
classified as loans and receivables, held-to-maturity investments or financial
assets at fair value through profit or loss. Available-for-sale financial
assets </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">primarily
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">consist
of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">mutual
funds, and corporate and government bonds, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">which are recorded as </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">part of &#8220;O</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ther </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">C</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">urrent </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">F</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">inancial </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">A</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ssets&#8221;&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> in the
consolidated statements of financial position.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.05in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:75.15pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Available-for-sale
securities are stated at fair value. Unrealized holding gain or losses on
available-for-sale securities are excluded from income of the current period
and are reported as a separate component in the equity section of the
consolidated statement</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
of financial position until realized. Realized gain or losses from the sale of
available-for-sale securities are recognized in the consolidated statement</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">profit or
loss and other </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">comprehensive
income, and are determined on the specific identification basis. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;text-indent:-20.3pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ii.&#160;&#160;&#160; Financial
liabilities</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Group classifies its financial liabilities as (i) financial liabilities at fair
value through profit or loss or (ii) financial liabilities measured at
amortized cost.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Group&#8217;s financial liabilities include trade and other payables, accrued
expenses, and interest-bearing loans and other borrowings</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Interest-bearing l</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">oans and
other borrowings </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">consist
of short-term bank loans, two-step loans, bonds and notes, long-term bank loans</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">obligations under </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">finance&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> leases.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:57.4pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:77.0pt;text-align:justify;text-indent:-19.6pt;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">a.</font><font color=black face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp; </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">Financial liabilities
at fair value through profit or loss </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Financial
liabilities at fair value through profit or loss are financial liabilities
classified as held for trading. A financial liability is classified as held for
trading if it is incurred principally for the purpose of selling or
repurchasing it in the near term and for which there is evidence of a recent
actual pattern of short-term profit taking. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:.7pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">No financial liabilities were categorized as held for trading as
of December 31, 201</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:.7pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-13.5pt;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">b.</font><font color=black face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp; </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">Financial liabilities
measured at amortized cost </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Financial
liabilities that are not classified as liabilities at fair value through profit
or loss fall into this category and are measured at amortized cost. Financial
liabilities measured at amortized cost are trade </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">and </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">other payables, accrued expenses, and
interest-bearing loans</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and other borrowings. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Interest-bearing l</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">oans and
other borrowings consist of short-term bank loans, two-step loans, bonds and
notes,</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
long-term</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
bank loans and obligations under finance leases.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:.7pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_194"></a><a name="_bclPageBorder194"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2. </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES</font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.55pt;text-align:justify;text-indent:-17.85pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">t.&#160;&#160;&#160; Financial instruments (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">iii.&#160;&#160; Offsetting financial instruments</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:55.3pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Financial
assets and liabilities are offset and the net amount is reported in the
consolidated statement</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">of
financial position when there is a legally enforceable right to offset the
recognized amounts and there is an intention to settle them on a net basis, or
realize the assets and settle the liabilities simultaneously. The right of set-off
must not be contingent on a future event and must be legally enforceable in all
of the following circumstances:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:78.3pt;text-align:justify;text-indent:-22.5pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
normal course of business;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:78.3pt;text-align:justify;text-indent:-22.5pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the event
of default; and</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:78.3pt;text-align:justify;text-indent:-22.5pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">c.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the event
of insolvency or bankruptcy of the Group and all of the counterparties.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:57.4pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">iv.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Fair
value of financial instruments</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:.55pt;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:.55pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Fair
value is the amount for which an asset could be exchanged, or liability
settled, in an arm&#8217;s length transaction.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:18.55pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The fair
value of financial instruments that are traded in active markets at each
reporting date is determined by reference to quoted market prices, without any
deduction for transaction costs.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">For financial
instruments not traded in an active market, the fair value is determined using
appropriate valuation techniques. Such techniques may include using recent
arm&#8217;s length market transactions, reference to the current fair value of
another instrument that is substantially the same, a discounted cash flow
analysis or other valuation models.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">An
analysis of fair values of financial instruments and further details as to how
they are measured are provided in Note </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">38</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">v.&#160;&#160; Impairment of financial assets</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Group assesses the impairment of financial assets if there is objective
evidence that a loss event has a negative impact on the estimated future cash
flows of the financial assets. Impairment is recognized when the loss event can
be reliably estimated. Losses expected as a result of future events, no matter
how likely, are not recognized. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">For financial assets carried at amorti</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">z</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">ed
cost, the Group first assesses whether impairment exists individually for
financial assets that are individually significant, or collectively for
financial assets that are not individually significant. If the Group determines
that no objective evidence of impairment exists for an individually assessed
financial asset, whether significant or not, it includes the asset in a group
of financial assets with similar credit risk characteristics and collectively
assesses them for impairment. Assets that are individually assessed for
impairment and for which an impairment loss is, or continues to be, recogni</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">z</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">ed
are not included in </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the&nbsp;</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;"> collective assessment of impairment.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">The amount of any impairment loss identified is measured as the
difference between the asset&#8217;s carrying amount and the present value of
estimated future cash flows (excluding future expected credit losses that have
not yet been incurred). The present value of the estimated future cash flows is
discounted at the financial asset&#8217;s original effective interest rate. The
carrying amount of the asset is reduced through the use of an allowance account
and the loss is recogni</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">z</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">ed in profit or loss.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2. </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES</font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.85pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">t.&#160;&#160;&#160; Financial instruments (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">v.&#160;&#160; Impairment of financial assets (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">For </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">available-for-sale </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">financial assets, the Group assesses at each reporting date
whether there is objective evidence that an investment or a group of
investments is impaired. When a decline in the fair value of an
available-for-sale financial asset has been recognized in other comprehensive
income and there is objective evidence that the asset is impaired, the
cumulative loss that had been recognized in other comprehensive income is
recognized in profit or loss as an impairment loss. The amount of the cumulative
loss is the difference between the acquisition cost (net of any principal
repayment and amortization) and current fair value, less any impairment loss on
that financial asset previously recognized.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">vi.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;
</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Derecognition of financial instrument</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group derecognizes a financial asset when the contractual
rights to the cash flows from the financial asset expire, or when the Group
transfers substantially all the risks and rewards of ownership of the financial
asset. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.9pt;text-align:justify;text-indent:.3pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group derecognizes a financial liability when the obligation
specified in the contract is discharged or cancelled or has expired.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.85pt;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.85pt;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">u.&#160;&#160; Treasury stock</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.3pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Reacquired Company shares of stock are accounted for at their
reacquisition cost and classified as &#8220;Treasury Stock&#8221; and presented as a
deduction to equity. The cost of treasury stock sold/transferred is accounted
for using the weighted average method. The portion of treasury stock
transferred for employee stock ownership program is accounted for at its fair
value at grant date. The difference between the cost and the proceeds from the
sale/transfer of treasury stock is credited to &#8220;Additional Paid-in Capital&#8221;.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">v.&#160;&#160; Dividends</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Dividend for distribution to the stockholders is recognized as a
liability in the consolidated financial statements in the year in which the
dividend is approved by the stockholders. The interim dividend is recognized as
a liability based on the Board of Directors&#8217; decision supported by the approval
from the Board of Commissioners.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.85pt;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">w.&#160;&#160; </font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">Basic </font></b><b><font color=black face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">and
diluted </font></b><b><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">e</font></b><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">arnings per share and per ADS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Basic earnings per share is computed by dividing profit for the
year attributable to owners of the parent company by the weighted average
number of shares outstanding during the year. Income per ADS is computed by
multiplying the basic earnings per share by 200, the number of shares
represented by each ADS.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Company does not have potentially dilutive financial </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">instruments</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.&#160;&#160; SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.85pt;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">x.&#160;&#160; Segment information</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.85pt;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group's segment information is presented based upon identified
operating segments. An operating segment is a component of an entity: a) </font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">that
engages in business activities from which it may earn revenues and incur
expenses (including revenues and expenses relating to transactions with other
components of the same entity); b) whose operating results are regularly
reviewed by the Group&#8217;s chief operating decision maker i.e., the Directors, to
make decisions about resources to be allocated to the segment and assess its
performance; and c) for which discrete financial information is available.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-.25pt;"><font color=black face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">y.&#160;&#160; Provisions</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font color=#212121 face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; Provisions are recognized when the
Group has present obligations (legal or constructive) arising from past events
and it is probable that an outflow of resources embodying economic benefits
will be required to settle the obligations and the amount can be measured
reliably.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.55pt;"><font color=#212121 face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Provisions for onerous contracts are
recognized when the contract becomes onerous for the lower of the cost of
fulfilling the contract and any compensation or penalties arising from failure
to fulfill the contract.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">z.&#160;&#160; Impairment of non-financial assets </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:6.0pt;text-decoration:none;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group assesses, at the end of each reporting period, whether
there is an indication that an asset may be impaired. If such indication
exists, the recoverable amount is estimated for the individual asset. If it is
not possible to estimate the recoverable amount of the individual asset, the
Group determines the recoverable amount of the Cash-Generating Unit (&#8220;CGU&#8221;) to
which the asset belongs (&#8220;the asset&#8217;s CGU&#8221;).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
recoverable amount of an asset (either individual asset or CGU) is the higher
of the asset&#8217;s fair value less costs to sell and its value in use (&#8220;VIU&#8221;).
Where the carrying amount of the asset exceeds its recoverable amount, the
asset is considered impaired and is written down to its recoverable amount. In
assessing the value in use, the estimated net future cash flows are discounted
to their present value using a pre-tax discount rate that reflects current
market assessments of the time value of money and the risks specific to the
asset.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
determining fair value less costs to sell, recent market transactions are taken
into account, if available. If no such transactions can be identified, the
Group uses an appropriate valuation model to determine the fair value of the
asset. These calculations are corroborated by valuation multiples or other
available fair value indicators.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Impairment
losses of continuing operations are recognized </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">in&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> profit or loss as
part of &#8220;Depreciation and Amortization&#8221; in the consolidated statements of
profit or loss and other comprehensive income.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">An
assessment is made at the end of each reporting period as to whether there is
any indication that previously recognized impairment losses for an asset, other
than goodwill, may no longer exist or may have decreased. If such indication
exists, the recoverable amount is estimated. A previously recognized impairment
loss for an asset, other than goodwill, is reversed only if there has been a
change in the assumptions used to determine the asset&#8217;s recoverable amount
since the last impairment loss was recognized. The reversal is limited such
that the carrying amount of the asset does not exceed its recoverable amount,
nor exceeds the carrying amount that would have been determined, net of
depreciation, had no impairment been recognized for the asset in prior periods.
Reversal of an impairment loss is recognized in profit or loss. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.&#160;&#160; SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">z.&#160;&#160; Impairment of non-financial assets (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Goodwill
is tested for impairment annually and when circumstances indicate that the
carrying value may be impaired. Impairment is determined for goodwill by
assessing the recoverable amount of each CGU (or group of CGUs) to which the
goodwill relates. When the recoverable amount of the CGU is less than its
carrying amount, an impairment loss is recognized. Impairment loss relating to
goodwill can not be reversed in future periods.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">aa.&#160; Critical accounting estimates, judgments and assumptions</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Estimates
and judgments are continually evaluated and are based on historical experience
and other factors, including expectations of future events that are believed to
be reasonable under the circumstances.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group
makes estimates and assumptions concerning the future. The resulting accounting
estimates will, by definition, seldom equal the related actual results. The
estimates and assumptions that have a significant risk of causing a material
adjustment to the carrying amounts of assets and liabilities within the next
financial year are addressed below.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i.&#160;&#160; Retirement
benefits</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
present value of the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">retirement&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> benefit obligations depends on a number of
factors that are determined on an actuarial basis using a number of
assumptions. The assumptions used in determining the net cost (income) for
pensions include the discount rate. Any changes in </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">these </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">assumptions will
impact the carrying amount of the retirement benefit obligations.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group
determines the appropriate discount rate at the end of each reporting period.
This is the interest rate that should be used to determine the present value of
estimated future cash outflows expected to be required to settle the
obligations. In determining the appropriate discount rate, the Group considers
the interest rates of Government bonds that are denominated in the currency in
which the benefits will be paid and that have terms to maturity approximating
the terms of the related retirement benefit obligations.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">If there
is an improvement in the ratings of such Government bonds or a decrease in
interest rates as a result of improving economic conditions, there could be a
material impact on the discount rate used in determining the post-employment
benefits obligations.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Other key
assumptions for retirement benefit obligations are based in part on current
market conditions. Additional information is disclosed in Notes 3</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 3</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ii.&#160; Useful
lives of property and equipment</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group
estimates the useful lives of its property and equipment based on expected
asset utilization, considering strategic business plans, expected future
technological developments and market behavior. The estimates of useful lives
of property and equipment are based on the Group&#8217;s collective assessment of
industry practice, internal technical evaluation and experience with similar
assets. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.&#160;&#160; SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">aa.&#160; Critical accounting estimates, judgments and assumptions
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ii.&#160; Useful
lives of property and equipment (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group
reviews its estimates of useful lives at least at each financial year-end and
such estimates are updated if expectations differ from previous estimates due
to changes in expectation of physical wear and tear, technical or commercial
obsolescence and legal or other limitations on the continuing use of the
assets. The amounts of recorded expenses for any year will be affected by
changes in these factors and circumstances. A change in the estimated useful
lives of the property and equipment is a change in accounting estimate and is
applied prospectively in profit or loss in the period of the change and future
periods.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Details
of the nature and carrying amounts of property and equipment </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">are&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> disclosed in Note 1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">iii.&#160; Provision
for impairment of receivables</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group
assesses whether there is objective evidence that trade and other receivables
have been impaired at the end of each reporting period. Provision for
impairment of receivables is calculated based on a review of the current status
of existing receivables and historical collection experience. Such provisions
are adjusted periodically to reflect the actual and anticipated experience.
Details of the nature and carrying amounts of provision for impairment of
receivables are disclosed in Note 7.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">iv. Income
taxes</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;text-indent:-14.2pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Significant
judgment is required in determining the provision for income taxes. There are
many transactions and calculations for which the ultimate tax determination is
uncertain. The Group recognizes liabilities for anticipated tax audit issues
based on estimates of whether additional taxes will be due. Where the final tax
outcome of these matters is different from the amounts that were initially
recorded, such differences will impact the current and deferred income tax
assets and liabilities in the year in which such determination is made. Details
of the nature and carrying amounts of income tax are disclosed in Note 31.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_199"></a><a name="_bclPageBorder199"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#160;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3.&#160;&#160;
BUSINESS COMBINATIONS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:18.45pt;"><u><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Acquisition
of Contact Centr</font></u><u><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">e</font></u><u><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s Australia
Pty. Ltd. (&#8220;CCA&#8221;)</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:18.45pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:18.45pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">On June 14,
2014, the shareholders of CCA and Telkom Australia entered into an agreement to
purchase 75% ownership in CCA amounting </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">to&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> AU</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">D</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">10,843,000 or equivalent to Rp115 billion.
The acquisition was completed on September 25, 2014. </font></p>

<p style="margin-bottom:.0001pt;margin-left:18.45pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:18.45pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">CCA
is a private company based in Surry Hills, Sydney and</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;"> was </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">established
in 2002. This company provides comprehensive and integrated </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Business Process
Outsourcing</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">
solutions with other services for a complete end</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">to</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">-</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">end solution.
</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:18.45pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:18.45pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">The fair
values of the assets acquired and liabilities </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">assumed&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> at the acquisition
dates were as
follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.84%;">
 <tr>
  <td valign=bottom width=72% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Cash and cash
  equivalents</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">5</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=72% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Trade
  receivable</font><font face=arial,sans-serif style="font-size:9.0pt;">s&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">20</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=72% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Other
  current assets</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">18</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=72% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Property and
  equipment (Note 11)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=72% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Intangible
  assets (Note 13)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">78</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=72% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Lease</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=72% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Current liabilities</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(29</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=72% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Non-current
  liabilities</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=27% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=72% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Fair value
  of identifiable net asset acquired</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">100</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=72% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Fair value
  of non-controlling interest</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(39</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=72% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Goodwill
  (Note 13)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=27% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">54</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=72% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Fair value
  of consideration transferred</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=27% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">115</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:18.9pt;text-align:justify;"><font color=#222222 face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The CCA&#8217;s shareholders agreement stated that there is an option
for the non-controlling interest to offer their shares ownership to Telkom
Australia in 2019. The Company has made a calculation and assessment on the
impact of this option to the consolidated financial statements and concluded
that the fair value of the option is nil.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:15.75pt;text-align:justify;"><font color=#222222 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font color=#222222 face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The goodwill of Rp54 billion represents the fair value of
expected synergies arising from the acquisition</font><font color=#222222 face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font><font color=#222222 face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> None of the goodwill recognized is expected to be deductible
for income tax purposes.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Since </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">its&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> acquisition
date up to period ended December 31, 2014, CCA</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> has</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> generated revenue
amounting to Rp72 billion. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The net cash flows to acquire control, net of cash
acquired, amounted to Rp110 billion.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_200"></a><a name="_bclPageBorder200"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader200"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:.1pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. &nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">TRANSLATION OF RUPIAH
INTO UNITED STATES DOLLAR</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The consolidated financial statements are
stated in Indonesian rupiah. The
translation of the Indonesian rupiah amounts into U.S. dollar amounts are
included solely for the convenience of the readers and has been made using the
average of the market buy and sell rates of Rp13,785 to US$</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> as published by
Reuters on December
31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. The convenience
translation should not be construed as representations that the Indonesian
rupiah amounts have been, could have been, or could in the future be, converted
into U.S. dollar at this or any other rate of exchange.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-transform:uppercase;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-transform:uppercase;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;text-transform:uppercase;">5</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-transform:uppercase;">.&#160;&#160; </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">CASH AND CASH
EQUIVALENTS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font></b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">The breakdown of cash and cash equivalents is
as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;text-indent:-17.85pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.56%;">
 <tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Balance</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Balance</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Currency</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Original currency</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Original currency</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">Cash
  on hand</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">24</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">10</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Cash in
  banks</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.0pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Related
  parties</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.0pt;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">PT
  Bank Mandiri (Persero) Tbk (&#8220;Bank Mandiri&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.0pt;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">611</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">672</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">18</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">226</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">51</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">70</font><font face=arial,sans-serif style="font-size:8.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">JPY</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">8</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">11</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">EUR</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">8</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">HKD</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">AUD</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">PT
  Bank Negara Indonesia (Persero) Tbk (&#8220;BNI&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">384</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">508</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">19</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">233</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">22</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">299</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">EUR</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">7</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">99</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">5</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">72</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">SGD</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">PT
  Bank Rakyat Indonesia (Persero) Tbk (&#8220;BRI&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">213</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">140</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">104</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">11</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">155</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">Others</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">26</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">20</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">Sub-total</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">1,</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">900&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">2,583</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:7.0pt;">&nbsp;</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_201"></a><a name="_bclPageBorder201"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader201"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;text-transform:uppercase;">5</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-transform:uppercase;">.&#160;&#160; </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">CASH AND CASH
EQUIVALENTS</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin-bottom:0in;margin-left:27.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.56%;">
 <tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Balance</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Balance</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Currency</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Original currency</font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Original currency</font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Cash in banks (continued)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Third parties</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">Standard Chartered
  Bank (&#8220;SCB&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-9.0pt;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-9.0pt;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-9.0pt;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-9.0pt;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">30</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">3</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">6</font><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">8&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">31</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">430</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">SGD</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">30</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">13</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">PT Bank Muamalat Indonesia
  Tbk (&#8220;Bank Muamalat&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">16</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">61</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">27</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">373</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">The</font><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;"> Hong</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">k</font><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">ong and Shanghai Banking
  Corporation Ltd</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">.&nbsp;</font><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;"> (&#8220;HSBC&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">7</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">88</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">8</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">110</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">HKD</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">10</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">18</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">SGD</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Citibank, N.A.
  (&#8220;Citibank&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">103</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">26</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">EUR</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Deutsche Bank AG</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">60</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">16</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">28</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">EUR</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">Others (each below
  Rp75 billion)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">76</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">18</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">10</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">AUD</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">13</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">TWD</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">21</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">8</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">19</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">8</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">MYR</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">HKD</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">MOP</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">Sub-total</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">7</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">56&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1,272</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">Total cash in banks</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">2,656</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">3,855</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Time deposits</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Related parties</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">BRI</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">4,443</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2,831</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">138</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1,713</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">201</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2,763</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">BNI</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1,285</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">3,03</font><font face=Arial,sans-serif style="font-size:7.0pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Bank Mandiri</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">852</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2,86</font><font face=Arial,sans-serif style="font-size:7.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">20</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">248</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">69</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">PT Bank Tabungan Negara (Persero)
  Tbk (&#8220;BTN&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">25</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">885</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">PT Bank Pembangunan
  Daerah Jawa Barat dan Banten (&#8220;BJB&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">54</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1,884</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">10</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">138</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Others</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">11</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">50</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">Sub-total</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">8,639</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">14,523</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:27.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><sup><font face=Arial,sans-serif lang=X-NONE style="font-size:7.0pt;">&nbsp;</font></sup></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;text-transform:uppercase;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_202"></a><a name="_bclPageBorder202"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader202"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;text-transform:uppercase;">5</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-transform:uppercase;">.&#160;&#160; </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">CASH AND CASH
EQUIVALENTS
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.56%;">
 <tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Balance</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Balance</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.0pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Currency</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Original currency</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Original currency</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">Time deposits
  (continued)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">Third parties</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">PT Bank Mega
  Tbk (&#8220;Bank Mega&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">1,057</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,265</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">26</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">323</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">70</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">960</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">PT Bank
  Bukopin Tbk (&#8220;Bank Bukopin&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">49</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,173</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">55</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">759</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">PT Bank
  Permata Tbk (&#8220;Bank Permata&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">1,350</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,692</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">58</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">720</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">PT Bank CIMB
  Niaga Tbk
  (&#8220;Bank
  CIMB Niaga&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">2,057</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,605</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">PT Bank OCBC
  NISP Tbk (&#8220;OCBC NISP&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">950</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">36</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">448</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">SCB</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">550</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">PT Bank UOB
  Indonesia (&#8220;UOB&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">300</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">PT Bank
  Tabungan Pensiunan Nasional (&#8220;BTPN&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">146</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">Bank
  Muamalat</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">66</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">142</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">PT Bank
  Panin Tbk (&#8220;Bank Panin&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">28</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">91</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">PT Bank
  Ekonomi Raharja Tbk (&#8220;Bank Ekonomi&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">75</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">Others (each
  below Rp75 billion)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">79</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">96</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">Sub-total</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">6,353</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">9,7</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">29&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Total time
  deposits</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">14,992</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">24,252</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Grand Total</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">17,672</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">28,117</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;text-transform:uppercase;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Interest rates per
annum on time deposits are as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.56%;">
 <tr>
  <td valign=top width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=SV style="font-size:10.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Rupiah</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4.00%-11.50%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3.75%-10.50%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Foreign
  currenc</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">y&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">0.03%-3.00%</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">0.10%-3.00%</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
related parties in which </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">t</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">he Group place</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> its funds are
state-owned banks. The Group placed the majority of its cash and cash
equivalents in these banks because they have the most extensive branch networks
in Indonesia and are considered to be financially sound banks, as they are
owned by the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">State</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Refer to
Note 3</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> for details of
related party transactions.</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_203"></a><a name="_bclPageBorder203"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6</font></b><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; OTHER CURRENT FINANCIAL
ASSETS </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:.2pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
breakdown of other current financial assets is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.56%;">
 <tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Balance</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Balance</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.0pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Currency</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Original currency</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Original currency</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">Time deposits</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">Related party</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">Bank Mandiri</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">20</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">278</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">Third party</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">SCB</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">10</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">11</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Total time
  deposits</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">110</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">289</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">Available-for-sale
  financial assets</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">Related parties</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">State-owned
  enterprises</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">55</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">59</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">Government</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">03&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">27</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">29</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Others</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">17</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">17</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">Sub-total</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">202</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">105</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">Third parties</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">52</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">55</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">Total
  available-for-sale financial assets</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">254</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">160</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Escrow
  accounts</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">2,121</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">2,1</font><font face=arial,sans-serif style="font-size:7.0pt;">21&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">4</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">Others</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">311</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">192</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">AUD</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">14</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:4.0pt;">
  <td valign=bottom width=37% style="background:#c6d9f1;height:4.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:4.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:4.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:4.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:4.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:4.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:4.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">2,797</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:4.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:4.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:4.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=SV style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:4.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">2,818</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:4.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">The majority of
escrow accounts represents Telkomsel&#8217;s account in BNI, in relation to the
Conditional Business Transfer Agreement between Telkomsel and the Company (Note
36c.ii).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The t</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">ime deposits </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">have </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">maturities of
more than three months but not more than one year, with interest rates</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.56%;">
 <tr>
  <td valign=top width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Arial,sans-serif style="font-size:10.0pt;">Foreign currenc</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">y&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">0.85%-1.00%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">0.85%-0.88%</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Refer to Note 34 for details of related party transactions</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_204"></a><a name="_bclPageBorder204"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;text-transform:uppercase;">7.&#160;&#160; TRADE AND OTHER RECEIVABLES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:.2pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
breakdown of trade and other receivables is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:.2pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Trade receivables</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">10,093</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">10,565</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Provision for
  impairment of receivables</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(3,096</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(3,048</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Net</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6,997</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">7,517</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Other receivables</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">392</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">358</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Provision for impairment of receivables</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">(9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">(3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Net</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">383</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">355</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Total </font></b><b><font face=arial,sans-serif style="font-size:10.0pt;">trade and other </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">receivables&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">7,380</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">7,872</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:.2pt;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:2.75pt;margin-top:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">Trade receivables
arise from services provided to both retail and non-retail customers, with
details as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">a.&#160;&#160;&#160;&#160; By
debtor</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">(i)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">Related parties</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.94%;">
 <tr style="height:.1in;">
  <td valign=bottom width=59% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=59% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Government agencies</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">1,186</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,181</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=59% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">PT Indosat Tbk
  (&#8220;Indosat&#8221;)</font></p>
  </td>
 <td valign=bottom width=20% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">195</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">361</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=59% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Indonusa</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">290</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">342</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=59% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">State-owned
  enterprises</font></p>
  </td>
 <td valign=bottom width=20% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">458</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">270</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=59% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">323</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">363</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=59% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></p>
  </td>
 <td valign=bottom width=20% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">2,452</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2,517</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=59% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Provision
  for impairment of receivables</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(721</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(920</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=59% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Net</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">1,731</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,597</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><sup><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></sup></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(ii)&#160;&#160; Third parties</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.94%;">
 <tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Individual and
  business subscribers</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6,856</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6,854</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Overseas
  international carriers</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">785</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,194</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7,641</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8,048</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Provision
  for impairment of receivables</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(2,375</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(2,128</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Net</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5,266</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5,920</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><sup><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></sup></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_205"></a><a name="_bclPageBorder205"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader205"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#160;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;text-transform:uppercase;">7.</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-transform:uppercase;">&#160;&#160; </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;text-transform:uppercase;">TRADE AND OTHER RECEIVABLES </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.&#160;&#160; By
age</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(i)&#160;&#160; Related parties</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.94%;">
 <tr>
  <td valign=top width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Up to 6 months</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,540</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,411</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">7 to 12 months</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">214</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">113</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">More than 12 months</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">698</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">993</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2,452</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2,517</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Provision
  for impairment of receivables</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(721</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(920</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Net</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,731</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,597</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(ii)&#160;&#160; Third parties</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.94%;">
 <tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Up to </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3&nbsp;</font><font face=Arial,sans-serif style="font-size:10.0pt;">
  months</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4,5</font><font face=Arial,sans-serif style="font-size:10.0pt;">56&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5,305</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">More than 3 months</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">3</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">,</font><font face=Arial,sans-serif style="font-size:10.0pt;">085&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2,743</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7,641</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8,048</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Provision
  for impairment of receivables</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(2,375</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(2,128</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Net</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5,266</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5,920</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:54.45pt;margin-right:0in;margin-top:0in;text-indent:-17.55pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:115%;">(iii)</font><font face="times new roman" lang=IN style="font-size:7.0pt;line-height:115%;">&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Aging
of total trade receivables</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.94%;">
 <tr style="height:.1in;">
  <td valign=bottom width=30% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=3 valign=bottom width=34% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=30% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Gross</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Provision for impairment of receivables</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Gross</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Provision for impairment of receivables</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Not past due</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">3</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">,</font><font face=Arial,sans-serif style="font-size:8.0pt;">595&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">127</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">4,353</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">266</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=30% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Past due up to 3 months</font></p>
  </td>
 <td valign=bottom width=17% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2,294</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">262</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">2,235</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">202</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Past due more than 3 to 6 months</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">645</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">321</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">583</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">216</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=30% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Past due more than 6 months</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">3,559</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2,38</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">3,394</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">2,364</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">10,093</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">3,096</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">10,565</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">3,048</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The Group has made provision for impairment
of trade receivables based on the collective assessment of historical
impairment rates and individual assessment of its customers&#8217; credit history.
The Group does not apply a distinction between related party and third party
receivables in assessing amounts past due. As of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">December 31, 2014 and
2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">,
the carrying amounts of trade receivables of the Group considered past due but
not impaired amounted to Rp3,529 billio</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">n and Rp3,</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">430&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;"> billion</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">, respectively.
Management believes that receivables past due but not impaired, along with
trade receivables that are neither past due nor impaired, are due from
customers with good credit history and are expected to be recoverable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_206"></a><a name="_bclPageBorder206"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;text-transform:uppercase;">7.&#160;&#160; TRADE AND OTHER RECEIVABLES </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:36.9pt;text-indent:-18.45pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:36.9pt;text-indent:-18.45pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">c.&#160;&#160; By
currency</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(i)&#160;&#160; Related parties</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.94%;">
 <tr>
  <td valign=bottom width=55% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=55% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Rupiah</font></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2,426</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2,493</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=55% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">U.S.
  dollar</font></p>
  </td>
 <td valign=bottom width=22% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">26</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">24</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=55% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2,452</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2,517</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=55% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Provision for impairment
  of receivables</font></p>
  </td>
 <td valign=bottom width=22% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">(721</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">(920</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=55% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Net</font></b></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">1,731</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">1,597</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><sup><font face=Arial,sans-serif lang=EN-US style="font-size:13.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></sup></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(ii)&#160;&#160; Third parties</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:5.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.94%;">
 <tr>
  <td valign=bottom width=55% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=22% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=55% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Rupiah</font></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6,55</font><font face=Arial,sans-serif style="font-size:10.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6,596</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=55% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">U.S.
  dollar</font></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,05</font><font face=Arial,sans-serif style="font-size:10.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,435</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=55% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Australian
  dollar</font></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">31</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">14</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=55% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=22% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=22% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=55% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">7,641</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8,048</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=55% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Provision
  for impairment of receivables</font></p>
  </td>
 <td valign=bottom width=22% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(2,375</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=22% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(2,128</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=55% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Net</font></b></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5,</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">266&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5,920</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><sup><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></sup></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:37.8pt;text-indent:-19.8pt;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">d.&#160;&#160;&#160;&#160; Movements
in the provision for impairment of receivables</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:40.5pt;width:94.7%;">
 <tr>
  <td valign=bottom width=57% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Beginning
  balance</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2,872</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3,096</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Provision recognized
  during the year (Note 29)</font></p>
  </td>
 <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">784</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,010</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Receivables written
  off</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">(560</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(1,058</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Ending
  balance</font></b></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3,096</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3,048</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><sup><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></sup></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The receivables written off
relate to both </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">related party
and </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">third party </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">trade </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">receivables.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Management believes that the
provision for impairment of </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">trade </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">receivables is adequate
to cover losses on uncollectible</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> trade</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> receivables.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-14.7pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,
2015, certain trade receivables of the subsidiaries amounting to Rp4,</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">290
</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">billion have been
pledged as collateral under lending agreements</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (Notes 1</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7&nbsp;</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">
and 1</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">).&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Refer to Note 3</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">for details of
related party transactions. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_207"></a><a name="_bclPageBorder207"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;text-transform:uppercase;">8.&#160;&#160; INVENTORIES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The breakdown of inventories is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Components</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">279</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">342</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">SIM
  cards, set top box</font><font face=Arial,sans-serif style="font-size:10.0pt;">es </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">and </font><font face=Arial,sans-serif style="font-size:10.0pt;">blank </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">prepaid
  vouchers</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">105</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">131</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">133</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">96</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Total</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">517</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">569</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Provision for obsolescence </font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Components</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(15</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(14</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">SIM cards, set top box</font><font face=Arial,sans-serif style="font-size:10.0pt;">es&nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> and </font><font face=Arial,sans-serif style="font-size:10.0pt;">blank </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">prepaid vouchers</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(28</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(27</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Total</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(43</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(41</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Net</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">474</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">528</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Movements in the
provision for obsolescence are as follows:</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Beginning balance</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">22</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">43</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Provision recognized
  during the year</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">39</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Inventory
  wri</font><font face=Arial,sans-serif style="font-size:10.0pt;">t</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">te</font><font face=Arial,sans-serif style="font-size:10.0pt;">n </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">off&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(18</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Ending
  balance</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">43</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">41</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
inventories recognized as expense and included in operations, maintenance, and
telecommunication service expenses as of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December 31,</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2013,</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2014 and
2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
amounted to Rp752 billion, Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,031&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,937&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion,
respectively (Note 2</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">).&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Management
believes that the provision is adequate to cover losses from decline in
inventory value due to obsolescence.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Certain
inventories of the subsidiaries amounting to Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">268&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion have been
pledged as collateral under lending agreements (Notes 1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">7&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">).&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of
December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, modules and
components held by the Group with book value amounting to Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">237&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and Rp219
billion,</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
respectively, have been insured against fire, theft and other specific risks.
Modules are recorded as part of property and equipment. Total sum insured as of
December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> amounted to Rp26</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">291&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion,
respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Management
believes that the insurance coverage is adequate to cover potential losses of
inventories arising from the insured risks.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">9</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; ADVANCES AND
PREPAID EXPENSES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The breakdown of
advances and prepaid expenses is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Frequency license
  (Notes 3</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6</font><font face=Arial,sans-serif style="font-size:10.0pt;">c.i and 3</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6</font><font face=Arial,sans-serif style="font-size:10.0pt;">c.ii)&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2,699</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2,935</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Prepaid rental</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">983</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,055</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Advances</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">410</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">729</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Salaries</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">218</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">347</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Others (each below Rp</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">75&nbsp;</font><font face=Arial,sans-serif style="font-size:10.0pt;"> billion)</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">423</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">773</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4,733</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5,839</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><sup><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;line-height:50%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></sup></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">R</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">efer to Note 3</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> for details of
related party transactions.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">0</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; LONG-TERM
INVESTMENTS </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The details of
long-term investments as of December 31, 2014 are as follows:</font></p>

<p style="margin-bottom:0in;margin-left:31.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=11 valign=bottom width=71% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">Percentage
  of ownership</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">Beginning
  balance</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">Additions
  (Deductions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">Share of
  (loss) profit of associated company</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">Foreign
  currency translation</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">Ending
  balance</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">Long-term investments in associated companies</font></b><font color=black face=arial,sans-serif style="font-size:8.0pt;">:&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">Tiphone<sup>a</sup></font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">24.92</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">1,395</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">(3</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">1,392</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">Indonusa<sup>b</sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">20.00</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">189</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">32</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">221</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">PT Teltranet Aplikasi Solusi (&#8220;Teltranet&#8221;)<sup>c</sup></font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">51.00</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">52</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">(0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">52</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">PT Melon Indonesia (&#8220;Melon&#8221;)<sup>d</sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">51.00</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">39</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">43</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">PT Integrasi Logistik Cipta Solusi (&#8220;ILCS&#8221;)<sup>e</sup></font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">49.00</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">37</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">38</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">Telin
  Malaysia<sup>f</sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">49.00</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">18</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">(19</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">CSM<sup>g</sup></font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">25.00</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">283</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">1,487</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">(17)</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">1,752</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">Other long-term investments</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">21</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">(6</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font color=black face=arial,sans-serif style="font-size:8.0pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">Total long-term
  investments</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">304</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">1,481</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">(17)</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">(1</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font color=black face=arial,sans-serif style="font-size:8.0pt;">1,767</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></sup></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_209"></a><a name="_bclPageBorder209"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader209"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">10.&#160; LONG-TERM INVESTMENTS (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Summarized</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> financial
information of the Group&#8217;s investments accounted </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">under </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">equity method
for 2014:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
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 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Tiphone</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
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 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Indonusa</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Teltranet</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Melon</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">ILCS</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Telin Malaysia</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">CSM</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">Statement of financial position</font></i></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Current assets</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">4,469</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">396</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">104</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">101</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">86</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">8</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">157</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Non-current assets</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1,259</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">365</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">36</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">24</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">933</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Current liabilities</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(2,465</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(382</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(51</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(31</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,297</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Non-current liabilities</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(275</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(605</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(317</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Equity (deficit)</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">2,988</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(226</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">104</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">84</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">77</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">11</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(524</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">Statement of profit or loss and other comprehensive
  income </font></i></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Revenues</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">14,590</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">387</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">134</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">99</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">8</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><i><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">173</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Cost of revenues and operating expenses</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(14,082</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(426</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(129</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(97</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(49</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(382</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Other (expenses) income, including finance costs - net</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(96</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(35</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">13</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Profit (loss) before tax</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">412</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(74</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(0</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">8</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">2</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(41</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(196</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Net income tax expense</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(107</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Profit (loss) for the year</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">305</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(74</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(0</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">8</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">2</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(41</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(196</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:31.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The details of long-term investments as of
December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> are as follows:</font></p>

<p style="margin-bottom:0in;margin-left:31.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=top width=18% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=13 valign=bottom width=82% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=18% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Percentage</font></b><b><font face=arial,sans-serif style="font-size:7.0pt;"> o</font></b><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">f ownership</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Beginning balance</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Additions</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Share of (loss) profit of associated company</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Dividend</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Share of</font></b><b><font face=arial,sans-serif style="font-size:7.0pt;"> o</font></b><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">ther comprehensive income of
  associated company</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Ending balance</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Long-term</font></b><b><font face=arial,sans-serif style="font-size:7.0pt;"> i</font></b><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">nvestments in
  associated companies:</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Tiphone<sup>a</sup></font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">24.65</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,392</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">32</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(18</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,404</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Indonusa<sup>b</sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">20.00</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">221</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">221</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Teltranet<sup>c</sup></font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">51.00</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">52</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">43</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(24</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">71</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Melon<sup>d</sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">51.00</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">43</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">50</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">ILCS<sup>e</sup></font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">49.00</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">38</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">40</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Telin
  Malaysia<sup>f</sup></font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">49.00</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">19</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(19</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">CSM<sup>g</sup></font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">25.00</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,752</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">62</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(18</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,792</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Other
  long</font><font face=arial,sans-serif style="font-size:7.0pt;">-</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">term
  investments</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Total long</font></b><b><font face=arial,sans-serif style="font-size:7.0pt;">-</font></b><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">term investments</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,767</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">62</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(2</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(18</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(2</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,807</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:31.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_210"></a><a name="_bclPageBorder210"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">10.&#160; LONG-TERM
INVESTMENTS (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Summarized</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> financial
information of the Group&#8217;s investments accounted </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">under </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">equity method
for 2015:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Tiphone</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Indonusa</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Teltranet</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Melon</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">ILCS</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Telin
  Malaysia</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">CSM</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><i><font face=arial,sans-serif style="font-size:7.0pt;">Statement
  of financial position</font></i><font face=arial,sans-serif style="font-size:7.0pt;"> &nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">Current
  assets</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">6,539</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">501</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">117</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">131</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">105</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">18</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">185</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Non-current
  assets</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">1,261</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">333</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">58</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">27</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">32</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">10</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">1,221</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Current
  liabilities</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(1,657</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(535</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(35</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(57</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(54</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(17</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(731</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Non-current
  liabilities</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(3,073</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(568</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(1,535</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Equity
  (deficit)</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">3,070</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(269</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">139</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">99</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">82</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">11</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(860</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><i><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Statement of profit or loss and other
  comprehensive i</font></i><i><font face=arial,sans-serif style="font-size:7.0pt;">ncome&nbsp;</font></i><font face=arial,sans-serif style="font-size:7.0pt;"> &nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.3in;"><font face=arial,sans-serif style="font-size:7.0pt;">Revenues</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">22,060</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">599</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">201</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">111</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">164</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.3in;"><font face=arial,sans-serif style="font-size:7.0pt;">Cost
  of revenues and operating expenses</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(21,295</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(559</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(72</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(184</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(108</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(40</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(364</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.3in;"><font face=arial,sans-serif style="font-size:7.0pt;">Other
  (expenses) income, including finance costs - net</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(265</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(82</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">9</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(3</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(74</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Profit
  (loss) before tax</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">500</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(42</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(63</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">19</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(37</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(274</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Income
  tax expense</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(130</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">16</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(5</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Profit
  (loss) for the year</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">370</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(42</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(47</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">14</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">3</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(37</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(274</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">Others
  comprehensive expense</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(7</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Net
  comprehensive income (expense) for the year</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">363</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(42</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(47</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">14</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">3</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(37</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(274</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=FR style="font-size:1.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:26.6pt;margin-right:.95pt;margin-top:0in;text-align:justify;text-indent:-7.9pt;"><sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">a</font></sup><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&#160;&#160; </font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Tiphone </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">was established
on June 25, 2008 as </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">PT
</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Tiphone
Mobile Indonesia Tbk.</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">
Tiphone </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">is
engaged in </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">the
</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">telecommunication
equipment business</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">,
such as for </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">celullar phone
including spare parts, accessories, pulse</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;"> reload vouchers</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">, repair service and
content provider through its subsidiaries. On September 18, 2014,
the Company through PINS acquired 25% ownership in Tiphone </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">for&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> Rp1,395
billion. As of December 31, 201</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> and 201</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">5</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">, the fair value</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> of </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">the </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">investment a</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">re&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> Rp1,</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">632&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> billion and
Rp1,</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">351&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> billion,
respectively. The fair value was calculated by multiplying </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">the </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">number of
shares </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">by
the published</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">
price </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">quotation
</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">as
of December 31, 201</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> and 201</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">5 (</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Rp</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">930&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> and Rp</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">770&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> per share,
respectively</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">)</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">.&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:26.6pt;margin-right:.95pt;margin-top:0in;text-indent:-7.9pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:26.6pt;margin-right:.95pt;margin-top:0in;text-indent:-7.9pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&#160;&#160; </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Reconciliation of financial
information to the carrying amount of long-term investment in Tiphone </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">as of December
31, 2014 and 2015, </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">is&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> as follows</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">:&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:31.5pt;text-indent:-8.1pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:27.0pt;width:96.48%;">
 <tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Assets</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">5</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">,</font><font face=Arial,sans-serif style="font-size:8.0pt;">728&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">7,800</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Liabilities</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">(2</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">,</font><font face=Arial,sans-serif style="font-size:8.0pt;">740&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">(4,730</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Net assets</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">,</font><font face=Arial,sans-serif style="font-size:8.0pt;">988&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">3,070</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Group&#8217;s
  proportionate share of net asset</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">s&nbsp;</font><font face=Arial,sans-serif style="font-size:8.0pt;"> (24.92%</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">
  in 2014 and 24.65% in 2015</font><font face=Arial,sans-serif style="font-size:8.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">745</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">757</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Goodwill</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">647</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">647</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Carrying amount of
  long-term investment</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">,</font><font face=Arial,sans-serif style="font-size:8.0pt;">392&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1,404</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;text-indent:-9.0pt;"><sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">b</font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;"> &nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&#160; </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Indonusa had been a
subsidiary of the Company until 2013 when the Company disposed 80% of its
interest in Indonusa. </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">On May 14, 2014, based on the Circular Resolution of the
Stockholders of Indonusa as covered by notarial deed No. 57 dated April 23, 2014
of FX Budi Santoso Isbandi, S.H., which was approved by the MoLHR in its Letter No.
AHU-02078.40.20.2014 dated April 29, 2014, Indonusa&#8217;s stockholders approved an
increase in its issued and </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">fully </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">paid capital </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">by&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> Rp80 billion. The
Company has waived its right to own the new shares issued and transferred it to
Metra and</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">,&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> as </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">a </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">result</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">,&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> Metra&#8217;s ownership in
Indonusa increased to 4.33%.</font><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">
&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_211"></a><a name="_bclPageBorder211"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">10.&#160; LONG-TERM
INVESTMENTS (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;margin-right:.05pt;margin-top:0in;text-indent:-9.0pt;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">c&#160;&#160;&#160; </font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Investment in T</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">eltranet </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">is accounted for under
the</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">
equity method</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">,
and is covered by
an </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">agreement
between Metra and Telstra Holding Singapore Pte. Ltd. </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">dated August 29, 2014.
</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Teltranet
</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">is engaged
in communication </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">system&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;"> services.</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> Metra </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">does not have</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> control </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">as it does not</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> determin</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">e the </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">financial and
operating policies of Teltranet.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;margin-right:.05pt;margin-top:0in;text-indent:-9.0pt;"><sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">d</font></sup><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&#160;&#160;&#160; </font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Melon is engaged in
providing Digital Content Exchange Hub services (&#8220;DCEH&#8221;). Metra does not have
control over Melon
due to
the existence of substantive participating rights held by the other venturer
over the financial and operating policies of Melon</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;margin-right:.05pt;margin-top:0in;text-indent:-9.0pt;"><sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">e</font></sup><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&#160;&#160;&#160; </font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">ILCS is engaged in
providing E-trade logistic services and other related services.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;margin-right:.05pt;margin-top:0in;text-indent:-9.0pt;"><sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">f</font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#160;&#160; Telin Malaysia is
engaged in telecommunication services in Malaysia.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;margin-right:.05pt;margin-top:0in;text-indent:-9.0pt;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">g</font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#160;&#160; CSM is engaged in
providing Very Small Aperture Terminal (&#8220;VSAT&#8221;), network application services
and consulting services on telecommunications technology and related
facilities. The unrecognized share of losses of CSM for the </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">years&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;"> ended </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">December 31,
2014 and </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">5 are </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Rp</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">131&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;"> billion</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> and Rp215
billion, </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">respectively.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;margin-right:.05pt;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;margin-right:.05pt;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">11.&#160; PROPERTY
AND EQUIPMENT </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;text-indent:-17.85pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
details of property and equipment are as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">January 1, 2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">Business acquisition</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">Additions</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">Deductions</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">Reclassifications/Translations</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">December 31, 2014</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">At cost</font></b><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">:&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">Land rights</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">1,098</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">107</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">(21</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">1,184</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">Buildings</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">4,224</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">131</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">(19</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">235</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">4,571</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">Leasehold improvements</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">812</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">49</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">(52</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">134</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">943</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">Switching equipment</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">18,788</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">331</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">(496</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">634</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">19,257</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">Telegraph, telex
  and data communication equipment</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">6</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">Transmission installation and
  equipment</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">101,544</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">2,793</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">(1,531</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">10,651</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">113,457</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">Satellite, earth station and equipment</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">7,456</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">312</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">(21</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">180</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">7,927</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">Cable network</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">29,353</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">3,025</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">(250</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">1,185</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">33,313</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:6.0pt;">Power supply</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">11,755</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">225</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">(78</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">874</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">12,776</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:6.0pt;">Data processing equipment</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">9,353</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">684</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">(74</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">381</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">10,344</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">Other telecommunications peripherals</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">502</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">102</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">(0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">604</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">Office equipment</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">777</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">206</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">(6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">(9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">972</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">Vehicles</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">358</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">36</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">(6</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">(0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">3</font><font face=Arial,sans-serif style="font-size:6.0pt;">90&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">CPE assets</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">22</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">22</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">Other equipment</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">104</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">(5</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">99</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">Property under construction</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">1,971</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">16,660</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">(15</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">(14,763</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:6.0pt;">3,853</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">Total</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">188,123</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">24,661</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">(2,569</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">(503</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=DE style="font-size:6.0pt;">209,718</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.55pt;text-align:justify;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160; &nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=top width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:6.0pt;">January 1, 2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:6.0pt;">Additions</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:6.0pt;">Impairments</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:6.0pt;">Deductions</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:6.0pt;">Reclassifications/Translations</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:6.0pt;">December 31, 2014</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:6.0pt;">Accumulated
  depreciation and impairment losses:</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">Land rights</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">162</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">47</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(2</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">207</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">Buildings</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">1,840</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">135</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(16</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(5</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">1,954</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">Leasehold improvements</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">649</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">71</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(52</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">1</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">669</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">Switching equipment</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">12,950</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">1,572</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(496</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(129</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">13,897</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:6.0pt;">Telegraph,
  telex and data communication equipment</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">3</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">1</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">4</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">Transmission installation and equipment</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">48,025</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">9,717</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">406</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(1,457</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(237</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">56,454</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">Satellite, earth station and equipment</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">5,190</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">577</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">332</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(0</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">6,099</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">Cable network</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">17,990</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">1,207</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">67</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(249</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(82</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">18,933</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">Power supply</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">6,794</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">1,246</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(62</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(0</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">7,978</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">Data processing equipment</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">6,905</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">886</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(78</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(10</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">7,703</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">Other telecommunications peripherals</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">268</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">55</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(0</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">323</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">Office equipment</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">566</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">112</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(6</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(7</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">665</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">Vehicles</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">69</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">50</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(2</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">1</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">118</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">CPE assets</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">13</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">2</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">15</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">Other equipment</font></p>
  </td>
 <td valign=top width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">100</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">2</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(5</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">97</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">Total</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">101,524</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">15,680</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">805</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(2,420</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">(473</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:6.0pt;">115,116</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=29% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:6.0pt;">Net Book Value</font></b></p>
  </td>
 <td valign=top width=11% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:6.0pt;">86,599</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:6.0pt;">94,602</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_212"></a><a name="_bclPageBorder212"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader212"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">11.&#160; PROPERTY AND EQUIPMENT (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">January 1,</font></b><b><font face=Arial,sans-serif style="font-size:6.0pt;"> 201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">Additions</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">Deductions</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">Reclassifications/</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">T</font></b><b><font face=Arial,sans-serif style="font-size:6.0pt;">ranslations&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">December</font></b><b><font face=Arial,sans-serif style="font-size:6.0pt;"> 31, 201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">At cost</font></b><font face=Arial,sans-serif style="font-size:6.0pt;">:&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">Land rights</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">1</font><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">,</font><font face=Arial,sans-serif style="font-size:6.0pt;">184&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">86</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">1,270</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">Buildings</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">4,571</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:6.0pt;">26</font><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">1,199</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">6</font><font face=Arial,sans-serif lang=EN-AU style="font-size:6.0pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">033&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">Leasehold improvements</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">943</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">41</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(151</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">203</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">1,036</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">Switching equipment</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">19,257</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">126</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">(66</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">555</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">19,872</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">Telegraph, telex and data communication equipment</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">870</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">876</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">Transmission installation and equipment</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">113,457</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">4,538</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">(2,520</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">9,514</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">124,989</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">Satellite, earth station and equipment</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">7,927</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">93</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">127</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">8,146</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">Cable network</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">33,313</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">4,458</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">(227</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">542</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">38,086</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">Power supply</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">12,776</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">471</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">(92</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">757</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">13,912</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">Data processing equipment</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">10,344</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">408</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">(97</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">759</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">11,414</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">Other telecommunications peripherals</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">60</font><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">37</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">(7</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">634</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">Office equipment</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">9</font><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">72&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">202</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(46</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">1,135</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">Vehicles</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">3</font><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">90&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">185</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(4</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">569</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">CPE assets</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">22</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">22</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">Other equipment</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">99</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">99</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">Property under construction</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">3,853</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">14,</font><font face=Arial,sans-serif lang=EN-AU style="font-size:6.0pt;">623&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">(13,896</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">4,580</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">Total</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">209,718</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">26,401</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">(3,202</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">(244</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">232,673</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">January 1</font></b><b><font face=Arial,sans-serif style="font-size:6.0pt;">, </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">2015&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Additions</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Deductions</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Reclassifications/ Translations</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">December 31, 2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">Accumulated depreciation and impairment losses:</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Land rights</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">207</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:6.0pt;">38</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">2</font><font face=Arial,sans-serif lang=EN-AU style="font-size:6.0pt;">45&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Buildings</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">1,954</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">183</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">2,14</font><font face=Arial,sans-serif lang=EN-AU style="font-size:6.0pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Leasehold improvements</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">669</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">105</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(151</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">623</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Switching equipment</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">13,897</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">1,443</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(62</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(17</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">15,261</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Telegraph, telex and data communication
  equipment</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Transmission installation and equipment</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">56,454</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">11,423</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(2,492</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">14</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">65,399</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Satellite, earth station and equipment</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">6,099</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">607</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">6,706</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Cable network</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">18,933</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">1,338</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(225</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(340</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">19,70</font><font face=Arial,sans-serif lang=EN-AU style="font-size:6.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Power supply</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">7,978</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">1,268</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(85</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(29</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">9,132</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Data processing equipment</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">7,703</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">953</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(97</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">8,556</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Other telecommunications peripherals</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">323</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">70</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(7</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">386</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Office equipment</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">665</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">152</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(45</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">764</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Vehicles</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">118</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">65</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(3</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">179</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">CPE assets</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">1</font><font face=Arial,sans-serif lang=EN-AU style="font-size:6.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Other equipment</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">97</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">99</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">Total</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">115,116</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">17,</font><font face=Arial,sans-serif lang=EN-AU style="font-size:6.0pt;">6</font><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">49&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(3,159</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">(388</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:6.0pt;">129,218</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">Net Book Value</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">94,602</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">103,455</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; a.&#160;&#160; Gain on
disposal or sale of property and equipment</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.3%;">
 <tr>
  <td valign=bottom width=47% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=47% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Proceeds
  from sale of property and equipment</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">466</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">501</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">733</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=47% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Net </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">book </font><font face=arial,sans-serif style="font-size:10.0pt;">value&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">(</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">53&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(6</font><font face=arial,sans-serif style="font-size:10.0pt;">2&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(8</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=47% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Gain
  on disposal or sale of property and equipment</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">4</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">13&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">43</font></b><b><font face=arial,sans-serif style="font-size:10.0pt;">9&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">72</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:.15pt;"><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">The
gain on disposal or sale of property and equipment includes gain from disposal
of the copper cable as part of the Company&#8217;s modernization program through
Trade In/Trade Off method with PT Industri Telekomunikasi Indonesia (&#8220;INTI&#8221;)
and PT LEN Industri (&#8220;LEN&#8221;).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:.15pt;"><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">&nbsp;</font></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">11.</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160; </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">PROPERTY AND
EQUIPMENT (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">b</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; Asset impairment </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;text-align:justify;text-indent:-22.5pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(i)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of December 31,
201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, the CGUs that
independently generate cash inflows were fixed wireline, fixed wireless,
cellular and others.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.0pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;text-align:justify;"><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">In
2014, the Group decided to cease its fixed wireless business no later than
December 1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">, 201</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">. The
Company assessed the recoverable amount to be Rp549 billion and determined that
the assets for fixed wireless CGU were further impaired by Rp805 billion. The
recoverable amount has been determined based on VIU calculation using the most
recent cash flows projection approved by management. The cash flows projection
included cash inflows from the continuing use of the assets during the
remaining service period and projected net cash flows to be received for the
disposal of the assets for fixed wireless CGU at the end of service period.
Projected net cash flows to be received for the disposal of the assets were
determined based on cost approach, adjusted for physical, technological and
economic obsolescence. Management applied a pre-tax discount rate of 13.</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5% </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">derived from the
Company&#8217;s post-tax weighted average cost of capital and </font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">benchmarked
to externally available data. In addition, management also applied
technological and economic obsolescence rate of 30% based on the Company&#8217;s
internal data, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">due
to the </font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">lack
of comparable market data because of the nature of the assets. The </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">determination&nbsp;</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;"> of VIU
calculation is most sensitive to the technological and economic obsolescence
rate assumption</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.
An increase in technological and economic obsolescence rate to 40% would result
in a further impairment of Rp70 billion.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;text-align:justify;"><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">Loss
on impairment of assets is recognized as part of &#8220;Depreciation and
Amortization&#8221; in the consolidated </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">tatement</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;"> of profit
or loss and other comprehensive income.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:83.25pt;text-align:justify;"><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">In
connection with the restructuring of fixed wireless business (Note 36c.ii), the
Company accelerated its depreciation of fixed wireless assets. As of December
31, 2015, all of the Company&#8217;s fixed wireless assets have been fully
depreciated.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:59.4pt;text-align:justify;text-indent:-23.4pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(ii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Management believes
that there is no indication of impairment in the assets of other CGUs as of
December 31</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">,&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.85pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">c</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; Others</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.8pt;text-align:justify;text-indent:-21.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(i)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Interest capitalized
to property under construction amounted </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">to </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">100 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">billion</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, Rp127 billion</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">328&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">for the years
ended December 31, 2013, 201</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively. The
capitalization rate used to determine the amount of borrowing costs eligible
for capitalization range</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">d&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> from </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">9.75%&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> to </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">07%</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, 11%</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> to </font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8.31</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">% </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">and from
6.84% to 11% </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">for
the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">years
ended December 31, 2013, 2014 and 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.8pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.8pt;text-align:justify;text-indent:-21.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(ii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">No foreign exchange
loss was capitalized as part of property under construction for the years ended
December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.8pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">11. PROPERTY AND
EQUIPMENT (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-indent:-17.85pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">c</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; Others</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.8pt;text-align:justify;text-indent:-21.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(iii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">In 2014 and 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, the G</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">roup received
proceeds from the insurance claim on </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">lo</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">st and broken property and equipment, with a
total value of Rp212 billion and Rp119 billion, respectively</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. The proceeds were</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> recorded as
part of &#8220;Other Income&#8221; in the consolidated statements of profit or loss and other
comprehensive income. In </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4 and </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5, the net
carrying value</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">those assets
of Rp50 billion and Rp3</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> billion, respectively, were charged </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">to&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> the
consolidated statements of profit or loss and other comprehensive income.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.95pt;text-align:justify;text-indent:-22.5pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(iv)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">In 2015, Telkomsel
decided to replace certain equipment units with net carrying amount of Rp1,967
billion</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">,&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> as part of its
modernization program. Accordingly, Telkomsel </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">accelerated </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">deprecation
of such </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">equipment&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> units</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">For the year
ended December 31</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015, the </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">additional
depreciation expense amount</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">ed&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> to Rp1,410 billion.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;text-indent:.3pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
impact of the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">acceleration
of depreciation </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">of
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">certain
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">equipment
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">units
will </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">decrease
profit before income tax </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">in future periods </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:58.5pt;width:92.1%;">
 <tr>
  <td valign=bottom width=75% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><u><font face=arial,sans-serif style="font-size:10.0pt;">Years </font></u></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><u><font face=arial,sans-serif style="font-size:10.0pt;">Amount</font></u></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=75% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">274</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=75% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">2017</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">30</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.95pt;text-align:justify;text-indent:-22.5pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(v)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group owns
several pieces of land located throughout Indonesia with Building Use Rights
(&#8220;Hak Guna Bangunan&#8221; or &#8220;HGB&#8221;) for a period of 10-45 years which will expire
between 2016 and 2053. Management believes that there will be no issue in
obtaining the extension of the land rights when they expire.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.95pt;text-align:justify;text-indent:-22.5pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(vi)</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">As
of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December
31, 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,
the Group&#8217;s property and equipment excluding land rights, with net carrying
amount of Rp</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">93,460
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">billion
were insured against fire, theft, earthquake and other specified risks, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">including
business interruption, under blanket policies totalling </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Rp</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">0</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">,</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">980 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">billion, US$</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">99 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">million, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">HKD</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">3&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> million and </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">SGD</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">34&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> million</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Management believes
that the insurance coverage is adequate to cover potential losses from the
insured risks.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.95pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.95pt;text-align:justify;text-indent:-22.5pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(vii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December 31,
2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,
the percentage of completion of property under construction was around </font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">58.</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">49</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">% of the total
contract value, with estimated dates of completion between </font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">Januar</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">y 2016 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">an</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">d December
2017</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.
The balance of property under construction mainly consists of buildings,
transmission installation and equipment, cable network and power supply.
Management believes that there is no impediment to the completion of the
construction in progress.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.95pt;text-align:justify;text-indent:-22.5pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(viii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">All assets owned by
the Company have been pledged as collateral for bonds (Note 18b). Certain
property and equipment of the Company&#8217;s subsidiaries with gross carrying value
amounting to Rp9,003 billion have been pledged as collateral under lending
agreements (Notes 17 and 18).</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_215"></a><a name="_bclPageBorder215"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader215"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:-.25in;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">11</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; PROPERTY AND
EQUIPMENT (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-indent:-15.0pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-indent:-15.0pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">c</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; Others (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;text-align:justify;text-indent:-22.5pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(ix)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Company and Telkomsel entered into several agreements with tower providers to
lease spaces in telecommunication towers (slot) and sites of the towers for a
period of 10 years. The Company and Telkomsel may extend the lease period based
on mutual agreement with the relevant parties. In addition, the Group also has
lease commitments for transmission installation and equipment, power supply,
data processing equipment, office equipment, vehicles and CPE assets with the
option to purchase certain leased assets at the end of the lease terms.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Future minimum lease payments
required for assets under finance leases are as follows:</font></p>

<p style="margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:58.5pt;width:92.36%;">
 <tr>
  <td valign=bottom width=54% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=22% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=22% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">975</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">927</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,027</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">898</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">991</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">830</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">888</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">9&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">758</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">800</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">20</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">20&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">725</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">766</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Thereafter</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,</font><font face=arial,sans-serif style="font-size:10.0pt;">4</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">22&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,597</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Total
  minimum lease payments</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6,535</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6,069</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Interest</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(1,746</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(1,489</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Net
  present value of minimum lease payments</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4,789</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4,580</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Current
  maturities (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">7</font><font face=arial,sans-serif style="font-size:10.0pt;">b)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(571</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(641</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Long-term
  portion </font></b><font face=arial,sans-serif style="font-size:10.0pt;">(Note
  1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8</font><font face=arial,sans-serif style="font-size:10.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4,218</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3,939</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin-bottom:0in;margin-left:59.4pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"> <font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">The details of obligations under finance
leases </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">as of</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> December 31, 2014 and 2015 are as follows</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">:&nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:58.5pt;width:92.36%;">
 <tr>
  <td valign=bottom width=54% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">PT
  Tower Bersama Infrastructure</font></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,713</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,589</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">PT
  Profesional Telekomunikasi Indonesia</font></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,596</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,460</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">PT
  Solusi Tunas Pratama</font></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">368</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">340</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">PT
  Putra Arga Binangun</font></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">244</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">227</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">PT
  Bali Towerindo Sentra</font></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">143</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">132</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">PT
  Naragita Dinamika Komunika</font></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">109</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">84</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Others
  (each below Rp75 billion)</font></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">616</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">748</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=54% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=22% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">4,789</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=22% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4,580</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_216"></a><a name="_bclPageBorder216"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader216"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160; </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ADVANCES AND OTHER
NON-CURRENT ASSETS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The breakdown of advances and other
non-current assets is as follows: </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:22.5pt;width:97.3%;">
 <tr>
  <td valign=top width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Advances for purchases of property and
  equipment</font></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3,354</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3,653</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Prepaid rental - net of current portion
  (Note 9)</font></p>
  </td>
 <td valign=top width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,587</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2,190</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Claim for tax
  refund - net of current portion</font><font face=arial,sans-serif style="font-size:10.0pt;"> (Note </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">31</font><font face=arial,sans-serif style="font-size:10.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">745</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,013</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Defer</font><font face=arial,sans-serif style="font-size:10.0pt;">r</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">ed charges</font></p>
  </td>
 <td valign=top width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">484</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">444</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Frequency license - net of current portion
  (Note </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">9</font><font face=arial,sans-serif style="font-size:10.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">493</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">404</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Long-term trade receivables - net of</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> current
  portion (Note 7)</font></p>
  </td>
 <td valign=top width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">362</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">172</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Restricted cash</font></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">112</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">111</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Security deposit</font></p>
  </td>
 <td valign=top width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">72</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">96</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Others</font></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">15</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">83</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">7,224</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">8,166</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:23.1pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">P</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">repaid rental </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">covers </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">rent&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> of </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">leased line and
telecommunication equipment and land and building under lease agreements</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> of the </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Group with remaining rental
periods ranging from </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">to
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">40&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> years.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:23.4pt;text-indent:.4pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of
December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, deferred charges
represent deferred Indefeasible Right of Use (&#8220;IRU&#8221;) Agreement charges. Total
amortization of deferred charges for the years ended December 31</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, 2013, 2014</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> amounted to Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">91&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, Rp86
billion and Rp46 billion</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,
respectively. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:20.3pt;text-indent:-6.5pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.35in;text-indent:-2.3pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Refer to
Note 34 for details of related party transactions.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:20.3pt;text-indent:-6.5pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:20.3pt;text-indent:-6.5pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; INTANGIBLE ASSETS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-12.6pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
details of intangible assets</font><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">are as follows: </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:22.5pt;width:97.06%;">
 <tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">Goodwill</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">Software</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">License</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">Other intangible
  assets</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">Gross carrying amount:</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Balance, January 1,
  2014</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">2</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">70&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">3,432</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">67</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">401</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">4,</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">170&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Addition</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">s&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1,</font><font face=arial,sans-serif style="font-size:7.5pt;">340&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1</font><font face=arial,sans-serif style="font-size:7.5pt;">07&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1,</font><font face=arial,sans-serif style="font-size:7.5pt;">447&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Acquisitions</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;"> (Note 3)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">54</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">78</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">132</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Deductions</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(13</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(13</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Reclassifications/translations</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(4</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Balance, December
  31, 2014</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">322</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">4,</font><font face=arial,sans-serif style="font-size:7.5pt;">771&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">67</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">5</font><font face=arial,sans-serif style="font-size:7.5pt;">72&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">5,</font><font face=arial,sans-serif style="font-size:7.5pt;">732&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Accumulated
  amortization</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">
  and</font><font face=arial,sans-serif style="font-size:7.5pt;"> i</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">mpairment
  losses</font><font face=arial,sans-serif style="font-size:7.5pt;">:&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Balance, January 1,
  2014</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(21</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(2,278</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(37</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(326</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(2,662</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Amortization</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(583</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(6</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(30</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(619</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Deductions</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">13</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">13</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Reclassifications/translations</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">-</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Balance, December
  31, 2014</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(2</font><font face=arial,sans-serif style="font-size:7.5pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(2,86</font><font face=arial,sans-serif style="font-size:7.5pt;">2&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(43</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(3</font><font face=arial,sans-serif style="font-size:7.5pt;">43&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(3,2</font><font face=arial,sans-serif style="font-size:7.5pt;">69&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">Net</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">301</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1,</font></b><b><font face=arial,sans-serif style="font-size:7.5pt;">909&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">24</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">229</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">2,</font></b><b><font face=arial,sans-serif style="font-size:7.5pt;">463&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:27.2pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.35pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;line-height:50%;text-decoration:none;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_217"></a><a name="_bclPageBorder217"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader217"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; INTANGIBLE ASSETS
(continued)</font></b></p>

<p style="margin-bottom:0in;margin-left:27.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">Goodwill</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">Software</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">License</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">Other intangible
  assets</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.5pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">Gross carrying amount:</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Balance, </font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">January </font><font face=arial,sans-serif style="font-size:7.5pt;">1, 201</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">5&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">3</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">22&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">4,771</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">67</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">572</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">5,732</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Additions</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1,</font><font face=arial,sans-serif style="font-size:7.5pt;">489&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1,499</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">Acquisition</font><font face=arial,sans-serif style="font-size:7.5pt;"> (Note 1d)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">Deductions</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Reclassifications/translations</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=EN-AU style="font-size:7.5pt;">8</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=EN-AU style="font-size:7.5pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Balance, </font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">December 31,
  2015</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">336</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">6,2</font><font face=arial,sans-serif style="font-size:7.5pt;">67&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">6</font><font face=arial,sans-serif style="font-size:7.5pt;">8&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">58</font><font face=arial,sans-serif style="font-size:7.5pt;">0&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">7,2</font><font face=arial,sans-serif style="font-size:7.5pt;">51&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Accumulated
  amortization</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">
  and
  impairment
  losses</font><font face=arial,sans-serif style="font-size:7.5pt;">:&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Balance, </font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">January </font><font face=arial,sans-serif style="font-size:7.5pt;">1, 201</font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">5&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(2</font><font face=arial,sans-serif style="font-size:7.5pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(2,86</font><font face=arial,sans-serif style="font-size:7.5pt;">2&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(43</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(3</font><font face=arial,sans-serif style="font-size:7.5pt;">43&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(3,2</font><font face=arial,sans-serif style="font-size:7.5pt;">69&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">Amortization</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(</font><font face=arial,sans-serif style="font-size:7.5pt;">883&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(6</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(3</font><font face=arial,sans-serif style="font-size:7.5pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(9</font><font face=arial,sans-serif style="font-size:7.5pt;">23&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">Deductions</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Reclassifications/translations</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(4</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.5pt;">(4</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.5pt;">Balance, </font><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">December 31,
  2015</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(21</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(3,7</font><font face=arial,sans-serif style="font-size:7.5pt;">48&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(49</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(3</font><font face=arial,sans-serif style="font-size:7.5pt;">77&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">(4,</font><font face=arial,sans-serif style="font-size:7.5pt;">195&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">Net</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">315</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">2,5</font></b><b><font face=arial,sans-serif style="font-size:7.5pt;">19&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">1</font></b><b><font face=arial,sans-serif style="font-size:7.5pt;">9&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.5pt;">203</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.5pt;">3,056</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:27.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&#160;&#160;&#160; &nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.7pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(i)</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Goodwill
resulted from </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
acquisition of Sigma in 2008 and Ad Medika in 2010, s</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">ale</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s-p</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">urchase
transaction of Data Center Business between Sigma and BDM in 2012</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, a</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">cquisition of
CCA in 2014 (Note 3), and acquisition of MNDG</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> in 2015 (Note 1d).</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> &nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.7pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(ii)</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
amortization is presented as part of &#8220;Depreciation and Amortization&#8221; in the
consolidated statements of profit or loss and other comprehensive income. The
remaining amortization periods of software range from </font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">1 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">to </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> years.</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; TRADE AND OTHER
PAYABLES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:19.8pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">This account consists
of the following:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Trade payables</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">12,362</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3</font><font face=arial,sans-serif style="font-size:10.0pt;">,</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">994&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Other payables</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">114</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">290</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Total trade and
  other payables</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">12,476</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">14,284</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:50%;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_218"></a><a name="_bclPageBorder218"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader218"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; TRADE AND OTHER PAYABLES
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:20.25pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The breakdown of
trade payables is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Related parties</font></p>
  </td>
 <td valign=top width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.3in;"><font face=arial,sans-serif style="font-size:10.0pt;">Radio
  frequency usage charges, concession fees </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">and&nbsp;</font><font face=arial,sans-serif style="font-size:10.0pt;"> Universal Service
  Obligation (&#8220;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">USO</font><font face=arial,sans-serif style="font-size:10.0pt;">&#8221;)&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> charges</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,160</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,32</font><font face=arial,sans-serif style="font-size:10.0pt;">9&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Purchases of
  equipment, materials and services</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">723</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,891</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Payables to
  other telecommunications providers</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">175</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">184</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2,058</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3,40</font><font face=arial,sans-serif style="font-size:10.0pt;">4&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Third parties</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Purchases of
  equipment, materials and services</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">9,471</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">9,593</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Payables to
  other telecommunications providers</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">833</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">99</font><font face=arial,sans-serif style="font-size:10.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">10,304</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">10,59</font><font face=arial,sans-serif style="font-size:10.0pt;">0&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">12,362</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">13,994</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:50%;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:20.25pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Trade payables by
currency are as follows: </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Rupiah</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">9,479</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">11,169</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">U.S. dollar</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2,837</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2,791</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">46</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">34</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=61% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">12,362</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">13,994</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:20.25pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Refer to Note 34 for
details of related party transactions. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">15.&#160;
ACCRUED EXPENSES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:20.25pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The breakdown of
accrued expenses is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:98.18%;">
 <tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Operations,
  maintenance and telecommunications services</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2,640</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4,459</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">General,
  administrative and marketing expenses</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,291</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,859</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Salaries and
  benefits</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,091</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,689</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Interest and bank
  charges</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">189</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">240</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5,211</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8,247</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:20.25pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Refer to Note 34 for
details of related party transactions.</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_219"></a><a name="_bclPageBorder219"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; UNEARNED INCOME</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The breakdown of
unearned income is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Prepaid pulse reload vouchers</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3,588</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3,630</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Other telecommunications services</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">78</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">96</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">297</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">634</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3,963</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4,360</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">7</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; SHORT-TERM LOANS
AND CURRENT MATURITIES OF LONG-TERM BORROWINGS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">This account consists
of the following:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.64%;">
 <tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=PL style="font-size:10.0pt;">Short-term bank
  loans</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,810</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">602</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Current maturities of long-term borrowings</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5,899</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3,</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">842&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">7,709</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">4,444</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&#160;&#160; Short-term bank
loans</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:40.5pt;width:94.7%;">
 <tr>
  <td valign=bottom width=24% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=30% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=30% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=24% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=30% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Outstanding</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td colspan=3 valign=bottom width=30% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Outstanding</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=24% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Lenders</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Currency</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Original currency</font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">(in </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">millions</font></b><b><font face=Arial,sans-serif style="font-size:8.0pt;">)&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Original currency</font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=24% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">UOB</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">200</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">20</font><font face=Arial,sans-serif lang=EN-AU style="font-size:8.0pt;">0&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=24% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Bank CIMB Niaga</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">234</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">152</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=24% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">PT Bank Danamon Indonesia Tbk (&#8220;Bank
  Danamon&#8221;)</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">60</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">80</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=24% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Citibank</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">US</font><font face=Arial,sans-serif style="font-size:8.0pt;">$&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">100</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1,244</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=24% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:8.0pt;">72</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">170</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=24% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1,810</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">602</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:27.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:12.0pt;line-height:50%;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Refer to Note 34 for
details of related party transactions.</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_220"></a><a name="_bclPageBorder220"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader220"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:19.45pt;text-align:justify;text-indent:-19.45pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">7</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; SHORT-TERM LOANS AND CURRENT MATURITIES OF
LONG-TERM BORROWINGS (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&#160;&#160; Short-term
bank loans</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
(continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Other
significant information relating to short-term bank loans as of December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.14%;">
 <tr>
  <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Borrower</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Currency</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Total facility</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Maturity date</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Interest payment period</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Interest rate per annum</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Security</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Bank CIMB Niaga</font></b></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">April 25, 2005</font><sup><font face=Arial,sans-serif style="font-size:8.0pt;">a</font></sup></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Balebat</font><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">e</font></sup></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">12</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">July</font><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;"> 3</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">0</font><font face=Arial,sans-serif style="font-size:8.0pt;">, 201</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">13.00</font><font face=Arial,sans-serif style="font-size:8.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Trade receivables (Note </font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">7</font><font face=Arial,sans-serif style="font-size:8.0pt;">), inventories
  (Note </font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">8</font><font face=Arial,sans-serif style="font-size:8.0pt;">), property and equipment (Note 1</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1</font><font face=Arial,sans-serif style="font-size:8.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">April 29, 2008</font><sup><font face=Arial,sans-serif style="font-size:8.0pt;">a</font></sup></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Balebat</font><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">e</font></sup></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">10</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">July 30, 201</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">13.00</font><font face=Arial,sans-serif style="font-size:8.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Trade receivables (Note </font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">7</font><font face=Arial,sans-serif style="font-size:8.0pt;">), inventories
  (Note </font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">8</font><font face=Arial,sans-serif style="font-size:8.0pt;">), property and equipment (Note 1</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1</font><font face=Arial,sans-serif style="font-size:8.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">March 21, 2013</font><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">b</font></sup></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Infomedia</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">38</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">October 18, 201</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">12.00</font><font face=Arial,sans-serif style="font-size:8.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Trade receivables (Note </font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">7</font><font face=Arial,sans-serif style="font-size:8.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">March 25, 2013</font><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">b</font></sup></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Infomedia</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">38</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">October 18, 2016</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">12.00%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Trade receivables (Note </font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">7</font><font face=Arial,sans-serif style="font-size:8.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">March 27, 2013</font><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">b</font></sup></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Infomedia</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">24</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">October 18, 2016</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">12.00%</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Trade receivables (Note </font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">7</font><font face=Arial,sans-serif style="font-size:8.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">April 28, 2013</font><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">c</font></sup></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">GSD</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">85</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">June 24, 2016</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">11.50</font><font face=Arial,sans-serif style="font-size:8.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Property and equipment (Note 1</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1</font><font face=Arial,sans-serif style="font-size:8.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">September 22, 201</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">4<sup>a</sup></font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Balebat<sup>e</sup></font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">5</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">July</font><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;"> 3</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">0</font><font face=Arial,sans-serif style="font-size:8.0pt;">, 201</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">13.00</font><font face=Arial,sans-serif style="font-size:8.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Trade receivables (Note </font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">7</font><font face=Arial,sans-serif style="font-size:8.0pt;">), inventories
  (Note </font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">8</font><font face=Arial,sans-serif style="font-size:8.0pt;">), property and equipment (Note 1</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1</font><font face=Arial,sans-serif style="font-size:8.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">October</font><font face=Arial,sans-serif style="font-size:8.0pt;"> 29</font><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">, 201</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">4&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Infomedia Solusi Humanika<sup>f</sup></font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">50</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">October </font><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">29</font><font face=Arial,sans-serif style="font-size:8.0pt;">, 201</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1</font><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">2</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">.00</font><font face=Arial,sans-serif style="font-size:8.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Trade</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;"> receivables</font><font face=Arial,sans-serif style="font-size:8.0pt;"> (Note </font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">7</font><font face=Arial,sans-serif style="font-size:8.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">UOB</font></b></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">November 22, 2013</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Infomedia</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">200</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">November 22, 201</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">12.00</font><font face=Arial,sans-serif style="font-size:8.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Trade receivables (Note 7)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Bank </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Danamon&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">August 23, 2013</font><sup><font face=Arial,sans-serif style="font-size:8.0pt;">d</font></sup></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Infomedia</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">80</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">August 23, 2016</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">12.00%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Trade receivables (Note 7)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=IN style="font-size:4.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
credit facilities were obtained by the Company&#8217;s subsidiaries for working
capital purposes.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">a</font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;"> Based on the latest
amendment dated December 14, 2015.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">b</font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;"> Based on the latest
amendment dated </font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;">December 21, 2015.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">c</font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;"> Based on the latest
amendment dated </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">November
11</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">, 2014.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">d</font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;"> Based on the latest
amendment dated </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">August
11, 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">e</font></sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> MD Media&#8217;s
subsidiary.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">f</font></sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> Infomedia&#8217;s
subsidiary.</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_221"></a><a name="_bclPageBorder221"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader221"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">17. SHORT-TERM LOANS
AND CURRENT MATURITIES OF LONG-TERM BORROWINGS</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.
Current maturities of long-term borrowings</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-indent:-9.0pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:31.5pt;width:95.74%;">
 <tr>
  <td valign=bottom width=44% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Notes</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Two-step loans</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">18a</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">207</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">224</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Bonds and notes</font></p>
  </td>
 <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">18</font><font face=arial,sans-serif style="font-size:10.0pt;">b&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,069</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">49</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Bank loans</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">18c</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4,052</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2,928</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Obligations under
  finance leases</font></p>
  </td>
 <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">11c.</font><font face=arial,sans-serif style="font-size:10.0pt;">i</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">x&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">571</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">641</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5,899</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3,842</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:13.5pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Refer to
Note 3</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> for details of
related party transactions. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. LONG-TERM LOANS AND
OTHER BORROWINGS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Long-term loans and
other borrowings consist of the following:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.58%;">
 <tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Notes</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Two-step loans</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">18a</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,408</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,296</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Bonds and notes</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">18b</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2,239</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">9,499</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Bank loans</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">18c</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7,878</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">15,434</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=PL style="font-size:10.0pt;">Obligations under
  finance leases</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">11c.</font><font face=Arial,sans-serif style="font-size:10.0pt;">i</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">x&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4,218</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3,939</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">15,743</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">30</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">,</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">168&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; Scheduled principal payment</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> as of </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5 are as follow</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s:&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.58%;">
 <tr>
  <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=9 valign=bottom width=60% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Year</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Notes</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">7&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">9&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">20</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">20&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Thereafter</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Two-step
  loans</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">18a</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,296</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">226</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">202</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">184</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">184</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">500</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Bonds
  and notes</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">18b</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">9,499</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">32</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">31</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">251</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">2,146</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">7,039</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Bank
  loans</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">18c</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">15,434</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">3,022</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">7,910</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">1,631</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">1,565</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">1,306</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Obligations under
  finance leases</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">11c.ix</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">3,939</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">667</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">629</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">596</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">614</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">1,433</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">30,168</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">3,947</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">8,772</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">2,662</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">4,509</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">10,278</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><sup><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;line-height:70%;text-decoration:none;">&nbsp;</font></sup></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_222"></a><a name="_bclPageBorder222"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader222"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; LONG-TERM LOANS
AND OTHER BORROWINGS</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Two-step loans</font></p>

<p style="margin-bottom:0in;margin-left:19.35pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.9pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:37.1pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Two-step
loans are unsecured loans obtained by the Government from overseas banks which
are then re-loaned to the Company. Loans obtained up to July 1994 are payable
in rupiah based on the exchange rate at the date of drawdown. Loans obtained
after July 1994 are payable in their original currencies and any resulting
foreign exchange gain or loss is borne by the Company.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.14%;">
 <tr>
  <td valign=bottom width=26% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=29% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=28% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=26% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td colspan=3 valign=bottom width=29% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Outstanding</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td colspan=3 valign=bottom width=28% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Outstanding</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=26% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Lenders</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Currency</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Original currency</font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Original currency</font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=26% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Overseas banks</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Yen</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">7,679</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">796</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">6,911</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">792</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=26% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-9.0pt;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">438</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:-9.0pt;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">365</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=26% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">31</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">381</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">26</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">36</font><font face=Arial,sans-serif style="font-size:8.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=26% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Total</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1,615</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1,5</font><font face=Arial,sans-serif style="font-size:8.0pt;">20&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=26% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Current maturities (Note 17b)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">(207</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">(224</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=26% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Long-term portion</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1,408</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1,296</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.14%;">
 <tr>
  <td valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Lenders</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Currency</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Principal payment schedule</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Interest payment
  period</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Interest rate per
  annum</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Overseas banks </font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">Yen</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">Semi-annually</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">Semi-annually</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">3.10</font><font face=arial,sans-serif style="font-size:8.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=23% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">Semi-annually</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">Semi-annually</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">8.5</font><font face=arial,sans-serif style="font-size:8.0pt;">4%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=23% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">Semi-annually</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">Semi-annually</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">4.00</font><font face=arial,sans-serif style="font-size:8.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The loans
were intended for the development of telecommunications infrastructure and
supporting telecommunications equipment. The loans are due on various dates
through 2024.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Company had used all facilities under the two-step loans program since 2008.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:17.45pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Under
the loan covenants, the Company is required to maintain financial ratios as
follows: </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:-14.7pt;"><font face=arial,sans-serif lang=EN-US style="font-size:1.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:52.95pt;text-align:justify;text-indent:-17.5pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&#160;&#160; Projected
net revenue to projected debt service ratio should exceed 1.2:1 for the
two-step loans originating from Asian Development Bank (&#8220;ADB&#8221;).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:52.95pt;text-align:justify;text-indent:-17.5pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.&#160;&#160; Internal
financing (earnings before depreciation and finance costs) should exceed 20%
compared to annual average capital expenditures for loans originating from the
ADB.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-align:justify;text-indent:-13.25pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:.25pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">As
of December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,
the Company has complied with the above-mentioned ratios.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:.2in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:.25pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Refer
to Note 3</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> for details of
related party transactions. </font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_223"></a><a name="_bclPageBorder223"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader223"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; LONG-TERM LOANS
AND OTHER BORROWINGS</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Bonds and notes</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.14%;">
 <tr style="height:.1in;">
  <td valign=bottom width=28% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td colspan=3 valign=bottom width=28% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=28% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td colspan=3 valign=bottom width=28% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">Outstanding</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=3 valign=bottom width=28% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">Outstanding</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">Bonds and notes</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">Currency</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">Original currency</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">Original currency</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Bonds</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">2010</font></p>
  </td>
 <td valign=top width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Series A</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">1,005</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Series B</font></p>
  </td>
 <td valign=top width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">1,995</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">1,995</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">2015</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Series A</font></p>
  </td>
 <td valign=top width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">2,200</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Series B</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">2,100</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Series C</font></p>
  </td>
 <td valign=top width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">1,200</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Series D</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">1,500</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Medium Term Notes
  (&#8220;MTN&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">GSD</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Series A</font></p>
  </td>
 <td valign=top width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">220</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">220</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Series B</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">120</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Finnet</font></p>
  </td>
 <td valign=top width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">MTN I</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Rp</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">200</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Promissory notes</font></p>
  </td>
 <td valign=top width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">PT Huawei</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">52</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">14</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">PT ZTE Indonesia (&#8220;ZTE&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">US$</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">3</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">36</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">1</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">14</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Total</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">3,308</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">9,563</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Unamortized debt
  issuance cost</font></p>
  </td>
 <td valign=top width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">(15</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">)</font></b></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">3,308</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">9,548</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Current maturities (Note
  17b)</font></p>
  </td>
 <td valign=top width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">(1,069</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">)</font></p>
  </td>
 <td valign=bottom width=13% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">(49</font></p>
  </td>
 <td valign=bottom width=1% style="height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">)</font></b></p>
  </td>
 </tr>
<tr style="height:.1in;">
  <td valign=bottom width=28% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">Long-term portion</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">2,239</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:.1in;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">9,499</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:.1in;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">(i)</font><font face="times new roman" lang=IN style="font-size:7.0pt;font-weight:normal;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">Bonds&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">2010</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:normal;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.14%;">
 <tr>
  <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Bonds</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Principal</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Issuer</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Listed on</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Issuance date</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Maturity date</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Interest payment
  period</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Interest rate per
  annum</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">Series A</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">1,005</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">The Company</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">IDX</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">June 25, 2010</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">July 6, 2015</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">9.60%</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">Series B</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">1,995</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">The Company</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">IDX</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">June 25, 2010</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">July 6, 2020</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">10.20%</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">3,000</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The bonds
are secured by all of the Company&#8217;s assets, movable or non-movable, either
existing or in the future (Note </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">11c.</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">viii). The underwriters of the bonds are PT
Bahana Securities (&#8220;Bahana&#8221;), PT Danareksa Sekuritas and PT Mandiri Sekuritas
and the trustee is PT CIMB Niaga Tbk.</font></p>

<p style="margin-bottom:0in;margin-left:26.9pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.05pt;"><sup><font face=Arial,sans-serif lang=X-NONE style="font-size:12.0pt;line-height:50%;">&#160;&#160;&#160; </font></sup></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_224"></a><a name="_bclPageBorder224"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader224"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; LONG-TERM LOANS
AND OTHER BORROWINGS</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-14.7pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.&#160; Bonds
and notes</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
(continued)</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">(i)</font><font face="times new roman" lang=IN style="font-size:7.0pt;font-weight:normal;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">Bonds (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Company received the proceeds from the issuance of bonds on July 6, 2010.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
funds received from the public offering of bonds net of issuance costs, were
used to </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">finance&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> capital expenditures
which consisted of wave broadband (bandwidth, softswitching, datacom,
information technology and others) and infrastructure (backbone, metro network,
regional metro junction, internet protocol, and satellite system) and to
optimize legacy and supporting facilities (fixed wireline and wireless).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December 31,
2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,
the rating of the bonds issued by PT Pemeringkat Efek Indonesia (Pefindo) is
idAAA (stable outlook).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Based on
the indenture trusts agreement, the Company is required to comply with all covenants
or restrictions, including maintaining financial ratios as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:75.15pt;text-align:justify;text-indent:-20.25pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.&#160;&#160;&#160; Debt
to equity ratio should not exceed 2:1.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:75.15pt;text-align:justify;text-indent:-20.25pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.&#160;&#160;&#160; EBITDA
to finance costs ratio should not be less than 5:1.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:75.15pt;text-align:justify;text-indent:-20.25pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3.&#160;&#160;&#160; Debt
service coverage is at least 125%.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December 31,
2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, the
Company has complied with the above-mentioned ratios.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">&#160;&#160;&#160;&#160;&#160; </font><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">2015&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.96%;">
 <tr>
  <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Bonds</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Principal</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Issuer</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Listed on</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Issuance date</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Maturity date</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Interest payment period</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Interest rate per annum</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Series A</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2,200</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">The Company</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">IDX</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">June 23, 2015</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">June 23, 2022</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Quarterly</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">9.93%</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Series B</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2,100</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">The Company</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">IDX</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">June 23, 2015</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">June 23, 2025</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Quarterly</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">10.25%</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Series C</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1,200</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">The Company</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">IDX</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">June 23, 2015</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">June 23, 2030</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Quarterly</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">10.60%</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Series D</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1,500</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">The Company</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">IDX</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">June 23, 2015</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">June 23, 2045</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Quarterly</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">11.00%</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">7,000</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:27.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><sup><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></sup></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
bonds are secured by all of the Company&#8217;s assets, movable or non-movable,
either existing or in the future </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(Note 11c.</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">viii</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">).&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> The underwriters of the bonds are Bahana, PT
Danareksa
Sekuritas,
PT Mandiri Sekuritas, and </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">PT Trimegah Sekuritas and </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the trustee is </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Bank Permata</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Company received the proceeds from the issuance of bonds on June 23, 2015.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The funds
received from the public offering of bonds net of issuance costs, were used to
finance capital expenditures which consisted of wave broadband, backbone, metro
network, regional metro junction, information technology application and
support, and merger and acquisition of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">some domestic and international
entities.</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
&nbsp;</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_225"></a><a name="_bclPageBorder225"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; LONG-TERM LOANS
AND OTHER BORROWINGS</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-14.7pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.&#160; Bonds
and notes</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
(continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">(i)</font><font face="times new roman" lang=IN style="font-size:7.0pt;font-weight:normal;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">Bonds (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December 31,
2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,
the rating of the bonds issued by Pefindo is idAAA (stable outlook).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Based on
the indenture trusts agreement, the Company is required to comply with all
covenants or restrictions, including maintaining financial ratios as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.&#160; Debt
to equity ratio should not exceed 2:1.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.&#160;
EBITDA to finance costs ratio should not be less than 4:1.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3.&#160; Debt
service coverage </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">is
at least</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
125%.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of
December 31, 2015, the Company has complied with the above-mentioned ratios.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">(ii)</font><font face="times new roman" lang=IN style="font-size:7.0pt;font-weight:normal;line-height:normal;">&nbsp;&nbsp;&nbsp;  </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">MTN&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">GSD</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.94%;">
 <tr>
  <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">Notes</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Currency</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Principal</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Issuance date</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">Maturity date</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Interest payment period</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Interest rate per annum</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">Series A</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Rp</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">220</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">November 14, 2014</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">November 14, 2019</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Semi-annually</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">11%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Series B</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Rp</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">120</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">March 6, 2015</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">March 6, 2020</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Semi-annually</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">11%</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:115%;">Total</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:115%;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:115%;">340</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:115%;">&nbsp;</font></p>
  </td>
 <td valign=top width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.3pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Based on Agreement of
Issuance and Appointment of Monitoring and Insurance Agents of Medium Term
Notes PT Graha Sarana Duta Year 2014 dated November 13, 2014 as covered by
notarial deed No. 30 of Arry Supratno, S.H., GSD will issue MTN with the
principal amount of up to Rp500 billion in series.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.3pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">PT Mandiri Sekuritas
acts as the Arranger, Bank Mandiri as the Monitoring and Insurance Agent, and </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">PT Kustodian
Sentral Efek Indonesia (&#8220;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">KSEI</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#8221;)&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> as the Custodian.
The funds obtained from MTN are used for investment projects.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.6pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Trade receivables,
inventories, land and building related with the investment development funded
by the MTN that are owned or will be owned by GSD, have been pledged as
collateral for MTN (</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">N</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ote</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s 7</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">).&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.3pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Under the agreement,
GSD is required
to
comply with all covenants or restrictions including maintaining financial
ratios as follows:</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;vertical-align:baseline;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">1.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Debt to equity ratio
should not exceed 6.5:1.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;vertical-align:baseline;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">2.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">EBITDA to interest
ratio should not be less than 1.2:1.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;vertical-align:baseline;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">3.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Minimum current ratio
is 120%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;vertical-align:baseline;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">4.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Maximum leverage
ratio is 450%.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">As
of December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">, GSD has complied with
the above-mentioned ratios.</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_226"></a><a name="_bclPageBorder226"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader226"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; LONG-TERM LOANS
AND OTHER BORROWINGS</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-14.7pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.&#160; Bonds
and notes</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
(continued)</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">(ii)</font><font face="times new roman" lang=IN style="font-size:7.0pt;font-weight:normal;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">MTN&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;"> (continued)</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:normal;">FINNET</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.94%;">
 <tr>
  <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">Notes</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Currency</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Principal</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Issuance date</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">Maturity date</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Payment period</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Rate per annum</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">MTN I</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Rp</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">200</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Jul</font><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">y&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;"> 1, 2015</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Jul</font><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">y&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;"> 1, 2022</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Quarterly</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">11%</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:54.45pt;margin-right:0in;margin-top:0in;text-align:justify;"> <font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">Based on Agreement of Debt Acknowledgement of Medium Term Notes (MTN) I
Finnet Year 2015 dated June 30, 2015 as covered by notarial deed No. 47 of
Utiek R. Abdurachman, S.H., MLI., M</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">.</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">Kn.,
Finnet will issue MTN through private placement with the princip</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">al
of</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;"> amount up to Rp200 billion.</font></p>

<p style="margin-bottom:.0001pt;margin-left:54.45pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:54.45pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">PT BNI Asset Management acts as the arranger, PT Bank Mega Tbk as the
trustee and KSEI as the Custodian.</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:54.45pt;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">The
funds obtained from MTN are used for Finnet&#8217;s working capital related to </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Retail National </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Channel&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> Bank</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> project as
Telkomsel&#8217;s billing payment aggregator.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:35.8pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:54.45pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">The rating of the MTN issued by PT Fitch Rating Indonesia is A (ind).
The MTN is not secured by any specific collateral. The MTN are secured by all
of Finnet&#8217;s assets, movable or non-movable either existing or in the future. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:54.45pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">Under the agreement, Finnet is required to comply with all covenants or
restrictions, including maintaining financial ratios as follows:</font></p>

<p style="margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Debt to equity ratio
should not </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">exceed 3.</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">5:1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">EBITDA to interest
ratio should </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">not
be less than
2.5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">:1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:54.45pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">As of December 31, 2015, Finnet has complied with the above</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">-</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">mentioned ratios.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-14.7pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">(iii)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;font-weight:normal;line-height:normal;">&nbsp;&nbsp; </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">Promissory
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">n</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;font-weight:normal;line-height:normal;">otes&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.94%;">
 <tr>
  <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Supplier</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Currency</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Principals*</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">(in billions)</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Issuance date</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Principal payment schedule</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Interest payment period</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">Interest rate per annum</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;line-height:normal;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">PT Huawei</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">US$</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">0.2</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">April 30, 2013</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">Semi-annually</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">(</font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;font-weight:normal;line-height:normal;">January 30, 2016 </font><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">-&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">
  July 30, 2016</font><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">)&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">Semi-annually</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">6 month LIBOR+1.5%</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">ZTE</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">US$</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">0.1</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">August 20, 2009<sup>a</sup></font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=13% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">Semi-annually</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">(</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">February
  4, 201</font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;font-weight:normal;line-height:normal;">6 </font><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">- </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">February 4, 2017</font><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">)&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">S</font><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">emi-annually&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">6 month LIBOR+1.5%</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">*</font></sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">In original
currency</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">a</font></sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">B</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">ased on </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">the latest
amendment </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">on
</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">August
15, 2011</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;font-weight:normal;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.9pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Based on
Agreement of Frame Supply and Deferred Payment Arrangement between the Company
and each of ZTE and PT Huawei, the promissory notes issued by the Company to
each of ZTE and PT Huawei are vendor financing facilities with no collateral
covering 85% of Hand-over Report (&#8220;</font><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Berita Acara Serah Terima</font></i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;) projects
with ZTE and PT Huawei.</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_227"></a><a name="_bclPageBorder227"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader227"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; LONG-TERM LOANS
AND OTHER BORROWINGS</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-indent:-14.15pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">c.</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Bank loans</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-indent:-14.15pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.3%;">
 <tr>
  <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=28% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=28% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=28% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Outstanding</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=28% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Outstanding</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Lenders</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Currency</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Original currency</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Original currency</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Syndication of banks</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2,200</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4,900</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">BNI</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2,195</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3,</font><font face=arial,sans-serif style="font-size:10.0pt;">430&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">The
  Bank of Tokyo-Mitsubishi UFJ, L</font><font face=arial,sans-serif style="font-size:10.0pt;">td</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">600</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2,</font><font face=arial,sans-serif style="font-size:10.0pt;">370&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">75</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,035</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Bank Mandiri</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,750</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2,19</font><font face=arial,sans-serif style="font-size:10.0pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">BRI</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3,398</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,806</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">PT Bank ANZ
  Indonesia</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">90</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">75</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">1,035</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Bank CIMB Niaga</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">567</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">770</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">PT </font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">Bank
  Sumitomo Mitsui Indonesia</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">370</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Japan
  Bank for International Cooperation (&#8220;JBIC&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">34</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">424</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">22</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">303</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">PT Bank Central Asia Tbk (&#8220;BCA&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">373</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font><font face=arial,sans-serif style="font-size:10.0pt;">11&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">ABN
  Amro Bank N.V. Stockholm (&#8220;AAB Stockholm&#8221;) and SCB</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">38</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">478</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Others</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">10</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font><font face=arial,sans-serif style="font-size:10.0pt;">9&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Total</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">12,001</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font><font face=arial,sans-serif style="font-size:10.0pt;">8</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">,</font><font face=arial,sans-serif style="font-size:10.0pt;">430&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Unamortized debt issuance cost</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(71</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(68</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">11,930</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font><font face=arial,sans-serif style="font-size:10.0pt;">8</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">,</font><font face=arial,sans-serif style="font-size:10.0pt;">362&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Current maturities (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">7</font><font face=arial,sans-serif style="font-size:10.0pt;">b)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(4,052</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(2,</font><font face=arial,sans-serif style="font-size:10.0pt;">928&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Long-term portion</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">7,878</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif style="font-size:10.0pt;">5</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">,</font></b><b><font face=arial,sans-serif style="font-size:10.0pt;">434&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:17.45pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Refer to Note 3</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> for details of
related party transactions. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_228"></a><a name="_bclPageBorder228"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader228"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; LONG-TERM LOANS
AND OTHER BORROWINGS</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:-16.55pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">c.</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&#160;&#160;&#160; </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Bank loans</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:2.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other significant
information relating to bank loans as of December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;"> is as follows: </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.3%;">
 <tr>
  <td valign=top width=13% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Borrower</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Currency</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Total facility</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(in billions)</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Current period
  payment </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(in billions)</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Principal payment
  schedule</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Interest payment
  period</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Interest rate per
  annum</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Security</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Syndication of banks</font></b></p>
  </td>
 <td valign=bottom width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.3in;"><font face=arial,sans-serif style="font-size:7.0pt;">December 19, 2012
  (BNI, BRI and Bank Mandiri)</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Dayamitra</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">2,500</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">300</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">(2014-2020)</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">3 months JIBOR+3.00%</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade receivables
  (Note 7), property and equipment (Note 11)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.3in;"><font face=arial,sans-serif style="font-size:7.0pt;">March 13, 2015 (BNI
  and BCA)<sup>a&amp;j</sup></font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">The Company</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">2,900</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">(2016-2022)</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">3 months JIBOR+2.5%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.3in;"><font face=arial,sans-serif style="font-size:7.0pt;">March 13, 2015 (BNI
  and BCA)<sup>a&amp;j</sup></font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">GSD</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">100</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">(2016-2022)</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">3 months JIBOR+2.5%</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">BNI</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">October 13, 2010<sup>a</sup></font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">The Company</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">1,000</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">286</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually
  (2013-2015)</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">3 months JIBOR+1.25%</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">December 23, 2011<sup>a</sup></font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">PINS</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">500</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">86</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually
  (2013-2016)</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">3 months JIBOR+1.50%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade receivables
  (Note 7), inventories (Note 8)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">November 28, 2012<sup>a</sup></font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Metra</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">44</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">31</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">(2013-2015)</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">11.00%</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade receivables
  (Note 7), property and equipment (Note 11)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">March 13, 2013<sup>a&amp;e</sup></font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Sigma</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">300</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">(2016-2020)</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">1 month JIBOR+3.35%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade receivables
  (Note 7), property and equipment (Note 11)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">March 26, 2013<sup>a</sup></font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Metra</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">60</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">20</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">(2013-2016)</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">10.00%</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade receivables
  (Note 7), property and equipment (Note 11)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">November 20, 2013<sup>a</sup></font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">The Company</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">1,500</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">375</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">(2015-2018)</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">3 months JIBOR+2.65%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">November 25, 2013<sup>a</sup></font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Metra</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">90</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">30</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">(2013-2016)</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">10.00%</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade receivables
  (Note 7), property and equipment (Note 11)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:17.1pt;">
  <td valign=top width=13% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">January 10, 2014<sup>a&amp;e</sup></font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Sigma</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">247</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">(2016-2022)</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">1 month JIBOR+3.35%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade receivables
  (Note 7), property and equipment (Note 11)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:17.1pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">July 21, 2014<sup>a</sup></font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Metra</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=10% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">40</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">13</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually
  (2015-2017)</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">10.00%</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade receivables
  (Note 7), property and equipment (Note 11)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="background:white;margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_229"></a><a name="_bclPageBorder229"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader229"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; LONG-TERM LOANS
AND OTHER BORROWINGS</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">c.</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Bank loans</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.3%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Borrower</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Currency</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Total
  </font></b><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">f</font></b><b><font face=arial,sans-serif style="font-size:7.0pt;">acility</font></b><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">*&nbsp;</font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(in
  billions)</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Current
  period payment </font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(in billions)</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Principal p</font></b><b><font face=arial,sans-serif style="font-size:7.0pt;">ayment schedule</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Interest
  payment period</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Interest
  rate per annum</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Security</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">BNI</font></b><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;"> (continued)</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">November 3</font><font face=arial,sans-serif style="font-size:7.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">4 <sup>a&amp;i</sup></font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Telkom
  Infratel</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">450</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">65</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">5</font><font face=arial,sans-serif style="font-size:7.0pt;">-201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">8</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1
  month JIBOR+3.35%</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Trade
  receivabl</font><font face=arial,sans-serif style="font-size:7.0pt;">es
  </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(Note
  7</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">April 8</font><font face=arial,sans-serif style="font-size:7.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">5<sup> a</sup></font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">T</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">elkomsel&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">1,</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0</font><font face=arial,sans-serif style="font-size:7.0pt;">00&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">April 14, 2018</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3
  months JIBOR+</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1.9</font><font face=arial,sans-serif style="font-size:7.0pt;">5%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">June 10, 2015<sup> a</sup></font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Metra</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">44</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">7</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Semi-annually (2015-2017)</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">10.</font><font face=arial,sans-serif style="font-size:7.0pt;">00</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Trade
  receivable</font><font face=arial,sans-serif style="font-size:7.0pt;">s
  &nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(Note
  7),
  property
  and
  equipmen</font><font face=arial,sans-serif style="font-size:7.0pt;">t (Note 11)</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">October 12, 2015</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Telkom
  Akses</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,400</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Semi-annual</font><font face=arial,sans-serif style="font-size:7.0pt;">l</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">y (2016-2019)</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">3
  months JIBOR+2.9%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Trade
  receivable</font><font face=arial,sans-serif style="font-size:7.0pt;">s
  &nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(Note
  7)</font><font face=arial,sans-serif style="font-size:7.0pt;">, </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">inventor</font><font face=arial,sans-serif style="font-size:7.0pt;">ies </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(Note 8)</font><font face=arial,sans-serif style="font-size:7.0pt;">, property and </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">equipment (Note 11</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">The Bank of Tokyo </font></b><b><font face=arial,sans-serif style="font-size:7.0pt;">-&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;"> Mitsubishi UFJ,
  Ltd.</font></b></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">October
  9, 2014</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Dayamitra</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">600</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">6</font><font face=arial,sans-serif style="font-size:7.0pt;">-201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">9</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3
  months</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">
  JIBOR+2.4%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade
  receivables </font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(Note
  </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">7</font><font face=arial,sans-serif style="font-size:7.0pt;">), property and </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">equipmen</font><font face=arial,sans-serif style="font-size:7.0pt;">t (Note 11)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">March 13</font><font face=arial,sans-serif style="font-size:7.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">5<sup> </sup><sup>a&amp;j</sup></font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Metra</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">300</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">6</font><font face=arial,sans-serif style="font-size:7.0pt;">-20</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">20</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">3
  months</font><font face=arial,sans-serif style="font-size:7.0pt;">
  JIBOR+2.</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">5%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">March 13, 2015<sup> </sup><sup>a&amp;j</sup></font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Infomedia</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">250</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Quarterly</font></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(2016-2020)</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">3
  months</font><font face=arial,sans-serif style="font-size:7.0pt;">
  JIBOR+</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">2.15</font><font face=arial,sans-serif style="font-size:7.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">April 8, 2015<sup> </sup><sup>a</sup></font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Telkomsel</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,000</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">April 14, 2018</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">3
  months</font><font face=arial,sans-serif style="font-size:7.0pt;">
  JIBOR+</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1.95</font><font face=arial,sans-serif style="font-size:7.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">April 8, 2015<sup> </sup><sup>a</sup></font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Telkomsel</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0.075</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">April 14, 2018</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">3
  months LIBOR+1.20%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">November 2, 2015</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Dayamitra</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">400</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Quarterly</font></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(2017-2020)</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">3
  months JIBOR+2.6%</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Trade receivable</font><font face=arial,sans-serif style="font-size:7.0pt;">s &nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(Note
  7),</font><font face=arial,sans-serif style="font-size:7.0pt;">
  property and </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">equipment (Note </font><font face=arial,sans-serif style="font-size:7.0pt;">11)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Bank
  Mandiri</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">July
  9, 2009<sup>b</sup><sup>
  </sup>and
  July 5, 2010<sup>b</sup></font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Telkomsel</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">5,000</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">250</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually
  (2009-2016)</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3
  months JIBOR+1.00%</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">November</font><font face=arial,sans-serif style="font-size:7.0pt;"> 20, 2013</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">The
  Company</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,500</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">375</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Semi-annually</font><font face=arial,sans-serif style="font-size:7.0pt;"> (2015-201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">8</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">3
  months
  </font><font face=arial,sans-serif style="font-size:7.0pt;">JIBOR+2.65%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">August 11, 2014</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">G</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">raha Yasa
  Selaras</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">71</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Monthly</font></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(20</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">16</font><font face=arial,sans-serif style="font-size:7.0pt;">-20</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">21</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">3
  months JIBOR+3.25%</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Property
  and equipment </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(Note
  11</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">August
  11, 2014</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Graha
  Yasa</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">
  Selaras</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">71</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(20</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">16</font><font face=arial,sans-serif style="font-size:7.0pt;">-20</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">21</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3
  months</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">
  JIBOR+3.25%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Property
  and equipment </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(Note
  11</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">April 8</font><font face=arial,sans-serif style="font-size:7.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">5<sup> a</sup></font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Telkomsel</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,000</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">April 14, 2018</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">3
  months JIBOR+1.95%</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>




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<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">NOTES TO THE CONSOLIDATED FINANCIAL
STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;"> 2015 and for the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;"> December 31, 2013, 2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-22.5pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">18.&#160; LONG-TERM LOANS
AND OTHER BORROWINGS (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-indent:-16.55pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">c.</font><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">&#160;&#160; </font><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">Bank loans</font><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">
(continued)</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.3%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Borrower</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Currency</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Total
  </font></b><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">f</font></b><b><font face=arial,sans-serif style="font-size:7.0pt;">acility</font></b><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">*&nbsp;</font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(in
  billions)</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Current
  period payment</font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(in billions</font></b><b><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Principal p</font></b><b><font face=arial,sans-serif style="font-size:7.0pt;">ayment schedule</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Interest
  payment period</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Interest
  rate per annum</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Security</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">BRI</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">October
  13, 2010<sup>a</sup></font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">The
  Company</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3,000</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,000</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually
  (2013-2015)</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3
  months</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">
  JIBOR+1.25%</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">July
  20, 2011<sup>a</sup></font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Dayamitra</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">1,000</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">200</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually
  (2013-2017)</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3
  months JIBOR+1.40%</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;"> and 3 months JIBOR+3.50%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Property
  and </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">e</font><font face=arial,sans-serif style="font-size:7.0pt;">quipment </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(Note 11)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">April
  26, 2013</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">GSD</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">141</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">37</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly
  (2014-2018)</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0</font><font face=arial,sans-serif style="font-size:7.0pt;">.</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">00</font><font face=arial,sans-serif style="font-size:7.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade
  receivables </font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(Note
  </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">7</font><font face=arial,sans-serif style="font-size:7.0pt;">), property and
  equipment (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">),
  and lease agreement</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">October
  30, 2013</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">GSD</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">70</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">5</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly
  (2014-2021)</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0.00</font><font face=arial,sans-serif style="font-size:7.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade
  receivables </font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(Note
  </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">7</font><font face=arial,sans-serif style="font-size:7.0pt;">), property and
  equipment (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">),
  and lease agreement</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">October
  30, 2013</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">GSD</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">34</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">4</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly
  (2014-2021)</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0.00</font><font face=arial,sans-serif style="font-size:7.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade
  receivables </font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(Note
  </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">7</font><font face=arial,sans-serif style="font-size:7.0pt;">), property and
  equipment (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">),
  and lease agreement</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">November 20, 2013</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">The
  Company</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,500</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">375</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually
  (2015-201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">8</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3
  months</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">
  JIBOR+2.65%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">October 1, 2014</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Patrakom</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">28</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">14</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Monthly (2014-2016)</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">10.95%</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Trade
  receivables</font><font face=arial,sans-serif style="font-size:7.0pt;">
  &nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(Note
  7),
  property
  and
  equipment (Note 11)</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">October 1</font><font face=arial,sans-serif style="font-size:7.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">4&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Patrakom</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0.0007</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0.0005</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Monthly</font><font face=arial,sans-serif style="font-size:7.0pt;"> (201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">4</font><font face=arial,sans-serif style="font-size:7.0pt;">-201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">5</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">6.00</font><font face=arial,sans-serif style="font-size:7.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade
  receivables </font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(Note
  </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">7</font><font face=arial,sans-serif style="font-size:7.0pt;">), property and
  equipment (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">October 1</font><font face=arial,sans-serif style="font-size:7.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">4&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Patrakom</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">93</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">12</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Monthly</font><font face=arial,sans-serif style="font-size:7.0pt;"> (201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">5</font><font face=arial,sans-serif style="font-size:7.0pt;">-201</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">7</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">10.95</font><font face=arial,sans-serif style="font-size:7.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade
  receivables </font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">(Note
  </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">7</font><font face=arial,sans-serif style="font-size:7.0pt;">), property and
  equipment (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_231"></a><a name="_bclPageBorder231"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader231"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">NOTES TO THE CONSOLIDATED FINANCIAL
STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;"> 2015 and for the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;"> December 31, 2013, 2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">8</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">.&#160; LONG-TERM LOANS AND OTHER
BORROWINGS</font></b><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-indent:-14.15pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-indent:-15.15pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">c.</font><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">&#160; </font><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">Bank loans</font><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">
(continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-indent:-14.15pt;"><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.3%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Borrower</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Currency</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Total
  </font></b><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">f</font></b><b><font face=arial,sans-serif style="font-size:7.0pt;">acility</font></b><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">*&nbsp;</font></b><b><font face=arial,sans-serif style="font-size:7.0pt;"> &nbsp;</font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(in
  billions)</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Current
  period payment</font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(in billions)</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Principal p</font></b><b><font face=arial,sans-serif style="font-size:7.0pt;">ayment schedule</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Interest
  payment period</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Interest
  rate per annum</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Security</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Bank ANZ Indonesia</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">March 13, 2015<sup> a&amp;j</sup></font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">GSD</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">90</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">June 13, 2020</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3
  months JIBOR+</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">2.00</font><font face=arial,sans-serif style="font-size:7.0pt;">% &nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Property
  and equipment </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(Note
  11)</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">April 8, 2015<sup> a</sup></font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Telkomsel</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0.075</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">April 14, 2018</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3
  months LIBOR+</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">.</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">20</font><font face=arial,sans-serif style="font-size:7.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Bank
  CIMB Niaga</font></b></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">March
  21, 2007<sup>
  </sup></font><sup><font face=arial,sans-serif lang=EN-GB style="font-size:7.0pt;">e</font></sup></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">GSD</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">21</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly
  (2007-2015)</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">9.75%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Property
  and equipment </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(Note
  11)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">May
  24, 2010</font><sup><font face=arial,sans-serif lang=EN-GB style="font-size:7.0pt;">
  f</font></sup></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Balebat</font><sup><font face=arial,sans-serif lang=EN-GB style="font-size:7.0pt;">h</font></sup></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">2</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly
  (2010-2015)</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0</font><font face=arial,sans-serif style="font-size:7.0pt;">.</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">75</font><font face=arial,sans-serif style="font-size:7.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade
  receivables (Note </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">7</font><font face=arial,sans-serif style="font-size:7.0pt;">),
  inventories (Note </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">8</font><font face=arial,sans-serif style="font-size:7.0pt;">),
  property and equipment (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">March
  31, 2011</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">GSD</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">24</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">3</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly
  (2011-2020)</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">9.75%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Property
  and equipment (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">),
  and lease agreement</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">March
  31, 2011</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">GSD</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">13</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">2</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly
  (2011-2019)</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">9.75%</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Property
  and equipment (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">),
  and lease agreement</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">March
  31, 2011</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">GSD</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">12</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly
  (2011-2016)</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">9.75%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Property
  and equipment (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">),
  and</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">
  l</font><font face=arial,sans-serif style="font-size:7.0pt;">ease
  agreement</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">September
  9, 2011</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">GSD</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">41</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">4</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly
  (2011-2021)</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">9.75%</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Property
  and equipment (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">),
  and</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">
  lease
  agreement</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">September
  9, 2011</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">GSD</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">11</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly
  (2011-2015)</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">9.75%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Property
  and equipmen</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">t&nbsp;</font><font face=arial,sans-serif style="font-size:7.0pt;"> (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">), and lease </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">agreement&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">August
  2, 2012</font><sup><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">f</font></sup></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Balebat</font><sup><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">h</font></sup></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">4</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly
  (2012-2015)</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0.75</font><font face=arial,sans-serif style="font-size:7.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade
  receivables (Note </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">7</font><font face=arial,sans-serif style="font-size:7.0pt;">),
  inventories (Note </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">8</font><font face=arial,sans-serif style="font-size:7.0pt;">),
  property and equipment (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">September
  20, 2012<sup>a</sup></font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">TLT</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">1,150</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly
  (2015-2030)</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3
  months JIBOR+3.45%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Property
  and equipment (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:22.3pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.2pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">NOTES TO THE CONSOLIDATED FINANCIAL
STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;"> 2015 and for the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;"> December 31, 2013, 2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">8</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">.&#160; LONG-TERM LOANS AND OTHER
BORROWINGS</font></b><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-indent:-14.45pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">c.</font><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">&#160; </font><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">Bank loans</font><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">
(continued)</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:1.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:1.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.3%;">
 <tr>
  <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Borrower</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Currency</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Total
  </font></b><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">f</font></b><b><font face=arial,sans-serif style="font-size:7.0pt;">acility</font></b><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">*&nbsp;</font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(in
  billions)</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Current
  period payment</font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(in billions)</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Principal</font></b><b><font face=arial,sans-serif style="font-size:7.0pt;"> payment schedule</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Interest
  payment period</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=9% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Interest
  rate per annum</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Security</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Bank
  CIMB Niaga (continued)</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">September
  20, 2012<sup>a</sup></font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">TLT</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">118</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly
  (2015-2030)</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">9</font><font face=arial,sans-serif style="font-size:7.0pt;">.00%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Property
  and equipment (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">October
  10, 2012</font><sup><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">f</font></sup></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Balebat</font><sup><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">h</font></sup></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly
  (2012-2015)</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0</font><font face=arial,sans-serif style="font-size:7.0pt;">.</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">75</font><font face=arial,sans-serif style="font-size:7.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade
  receivables (Note </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">7</font><font face=arial,sans-serif style="font-size:7.0pt;">),
  inventories (Note </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">8</font><font face=arial,sans-serif style="font-size:7.0pt;">),
  property and equipment (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">August
  26, 2013</font><sup><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">f</font></sup></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Balebat</font><sup><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">h</font></sup></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3.5</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly
  (2013-2018)</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Monthly</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">10.75%</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Trade
  receivables (Note </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">7</font><font face=arial,sans-serif style="font-size:7.0pt;">),
  inventories (Note </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">8</font><font face=arial,sans-serif style="font-size:7.0pt;">),
  property and equipment </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(Note 11)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Bank Sumitomo Mitsui Indonesia</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">March 13, 2015<sup> a&amp;j</sup></font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Metra</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">300</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly
  (20</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">16</font><font face=arial,sans-serif style="font-size:7.0pt;">-20</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">20</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3
  months JIBOR+</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">2</font><font face=arial,sans-serif style="font-size:7.0pt;">.</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">15</font><font face=arial,sans-serif style="font-size:7.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">March 13, 2015<sup> a&amp;j</sup></font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Infomedia</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">250</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly
  (20</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">16</font><font face=arial,sans-serif style="font-size:7.0pt;">-20</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">20</font><font face=arial,sans-serif style="font-size:7.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3
  months JIBOR+</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">2</font><font face=arial,sans-serif style="font-size:7.0pt;">.</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">15</font><font face=arial,sans-serif style="font-size:7.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">JBIC</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">March
  26, 2010<sup> a&amp;</sup></font><sup><font face=arial,sans-serif lang=EN-GB style="font-size:7.0pt;">d</font></sup></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">The
  Company</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">0.06</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0.006</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually
  (2010-2015)</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">4.56%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">March
  28, 2013<sup> a&amp;</sup></font><sup><font face=arial,sans-serif lang=EN-GB style="font-size:7.0pt;">g</font></sup></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">The
  Company</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">0.03</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">0.00</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually
  </font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">(2014-2019)&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">2.18%
  and </font></p>
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">6
  months LIBOR+1.20%</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">BCA</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">July
  9, 2009<sup>b</sup> and July 5, 2010<sup>b</sup></font></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Telkomsel</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">4,000</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">222</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually
  (2009-2016)</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3
  months JIBOR+1.00%</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">December
  16, 2010<sup>a</sup></font></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">TII</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">200</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">40</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually
  (2011-2015)</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Quarterly</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">3
  months JIBOR+1.25%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">AAB Stockholm</font></b><b><font face=arial,sans-serif style="font-size:7.0pt;"> and </font></b><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">SCB&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">December
  30, 2009<sup>b&amp;</sup></font><sup><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">c</font></sup></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Telkomsel</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">0.3</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">0.0</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">4</font><font face=arial,sans-serif style="font-size:7.0pt;">1&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually
  (2011-2016)</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">Semi-annually</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=9% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">6
  months</font><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">
  LIBOR+0.82%</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=arial,sans-serif style="font-size:7.0pt;">None</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-22.5pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:1.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"> <font face=arial,sans-serif lang=IN style="font-size:10.0pt;">The credit
facilities </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">were
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">obtained
by the Group for working capital purposes.</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">*In original currency</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:1.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">a</font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">As stated in the
agreements, the Group is required to comply with all covenants or restrictions
such as dividend distribution, obtaining new loans, and maintaining financial
ratios. As of December 31, 2015, the Group has complied with all covenants or
restrictions except for certain loan agreement. As of December 31, 2015, the
Group obtained waiver from the lenders to not demand the loan payment as consequence
of the breach of covenants, except for certain loans from BNI (PINS) and CIMB
Niaga (MD Media). The Group has classified loans from BNI (PINS) and CIMB Niaga
(MD Media) totaling Rp87 billion as part of current maturities of long-term
liabilities (Note 17</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">b</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">).&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">b</font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Telkomsel has no
collateral for its bank loans, or other credit facilities. The terms of the
various agreements with Telkomsel&#8217;s lenders and financiers require compliance
with a number of covenants and negative covenants as well as financial and
other covenants, which include, among other things, certain restrictions on the
amount of dividends and other profit distributions which could adversely affect
Telkomsel&#8217;s capacity to comply with its obligation under the facility. The
terms of the relevant
agreements
also contain default and cross default clauses. As of </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">December 31, 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">, Telkomsel has complied
with the above covenants.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:1.0pt;">&nbsp;</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; LONG-TERM LOANS
AND OTHER BORROWINGS</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:-14.15pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:-14.15pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">c.</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Bank loans</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;text-indent:-9.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.05in;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">c</font></sup><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> </font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Pursuant to the agreements with PT Ericsson
Indonesia (&#8220;Ericsson Indonesia&#8221;) and Ericsson AB (Note 3</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">6</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">a.ii), Telkomsel
entered into an EKN-Backed Facility Agreement (&#8220;facility&#8221;) with ABN Amro Bank
N.V. Stockholm branch (as &#8220;the original lender&#8221;)&#160; and Standard Chartered Bank
(as &#8220;the original lender&#8221; , &#8220;the arranger&#8221;, &#8220;the facility agent&#8221; and &#8220;the EKN
agent&#8221;), and ABN Amro Bank N.V., Hong Kong (as &#8220;the arranger&#8221;) for the purchase
of Ericsson telecommunication equipment and services. The facilities consist of
facilities 1, 2</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">,&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;"> and 3 amounting to
US$117 million, US$106 million, and US$95 million, respectively. The
availability period of facilities 1, 2</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">,&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;"> and 3 expired in July 2010, March 2011 and
November 2011, respectively. In October 2011, EKN agreed to reduce the premium on the
unused facility by US$3 million through a cash refund. </font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.05in;"><sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">d
</font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">In
connection with the agreement with NSW-Fujitsu Consortium, the Company entered
into a loan agreement with JBIC, the international arm of Japan Finance
Corporation, for the purchase of NSW-Fujitsu Consortium telecommunication
equipment and services. The facilities consist of facilities A and B amounting
to US$36 million and US$24 million, respectively.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.45in;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">e</font></sup><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> </font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Based on the latest
amendment on January 12, 2015.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.45in;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">f</font></sup><sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#160; </font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Based on the latest
amendment on September 22, 2014.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.05in;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">g</font></sup><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> </font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">In connection with the agreement with NEC
Corporation Consortium and TE SubCom, the Company entered into a loan agreement
with JBIC, for the procurement of goods and services from NEC Corporation
Consortium and TE SubCom for the Southeast Asia Japan Cable System project. The
facilities consist of facilities&nbsp;A and&nbsp;B amounting to US$18.8 million
and US$12.5 million, respectively.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.45in;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">h</font></sup><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> </font></sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">MD Media&#8217;s
subsidiary.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.45in;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">I</font></sup><sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#160; </font></sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Based on the latest
amendment on </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">July
13</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">5.&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.05in;"><sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">j</font></sup><sup><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#160; </font></sup><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">O</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">n </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">March 13</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">5, the
Company, GSD, Metra and Infomedia entered into several credit facilit</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">y&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> agreements with PT
Bank Sumitomo Mitsui Indonesia, The Bank of Tokyo &#8211; Mitsubishi UFJ, Ltd., PT
Bank ANZ Indonesia and syndication of banks (BCA and BNI) amounting to Rp750
billion, Rp750 billion, Rp500 billion, and Rp3,000 billion, respectively. As of
December 31, 2015, the unused facilities for PT Bank Sumitomo Mitsui Indonesia,
The Bank of Tokyo &#8211; Mitsubishi UFJ, Ltd., PT Bank ANZ Indonesia amount</font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">ed&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> to Rp200
billion, Rp200 billion and Rp410 billion, respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;text-indent:-9.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">19.
NON-CONTROLLING INTERESTS</font></b></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:18.9pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The details of
non-controlling interests are as follows:</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:98.18%;">
 <tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Non-controlling interests in net assets of subsidiaries </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">as of December 31, 2014 and 2015:</font></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Telkomsel</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">18,031</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">1</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7,981&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">GSD</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">125</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">13</font><font face=Arial,sans-serif style="font-size:10.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Metra</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">88</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">95</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">T</font><font face=Arial,sans-serif style="font-size:10.0pt;">II&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">42</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">36</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">18,286</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">18,2</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">49&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><sup><font face=Arial,sans-serif lang=IN style="font-size:13.0pt;line-height:50%;text-decoration:none;">&nbsp;</font></sup></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:98.18%;">
 <tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IT style="font-size:10.0pt;">Non-controlling interests in </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">net comprehensive income (loss) </font><font face=Arial,sans-serif style="font-size:10.0pt;">of subsidiaries</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> for the years ended
  December 31, 2013, 2014 and 2015:</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif lang=IT style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IT style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif lang=IT style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IT style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif lang=IT style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IT style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Telkomsel</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6,</font><font face=Arial,sans-serif style="font-size:10.0pt;">211&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">6,7</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">40&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7,760</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">GSD</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">(6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">(7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">7</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Patrakom</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Metra</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">22</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">21</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">(5</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">TII</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">(2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">6,227</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">6,7</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">57&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7,760</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font style="position:relative;top:3.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:50%;">&nbsp;</font></font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_234"></a><a name="_bclPageBorder234"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader234"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">19.
NON-CONTROLLING INTERESTS (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:0pt;margin-top:0in;text-align:justify;"><u><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Material partly-owned
subsidiary</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:.5pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December 31, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, the non-controlling
interest </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">holds
35% </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ownership
interest in Telkomsel (Note 1d) </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">which is considered material to the Company.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:.5pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
summarized financial information of Telkomsel below is provided based on
amounts before elimination of inter-company balances and transactions.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:0pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font></b><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Summarized statements of financial
position</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.68%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Current assets</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">19,30</font><font face=Arial,sans-serif style="font-size:10.0pt;">0&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">25,</font><font face=Arial,sans-serif style="font-size:10.0pt;">660&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Non-current assets</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">58,7</font><font face=Arial,sans-serif style="font-size:10.0pt;">80&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">58,</font><font face=Arial,sans-serif style="font-size:10.0pt;">304&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Current liabilities</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(18,</font><font face=Arial,sans-serif style="font-size:10.0pt;">106&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(20,020</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Non-current
  liabilities</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(8,4</font><font face=Arial,sans-serif style="font-size:10.0pt;">57&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(12,565</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Total equity</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">51,517</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">51,379</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Attributable to:</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Equity holders of
  parent</font><font face=Arial,sans-serif style="font-size:10.0pt;"> company</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">33,486</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">33,398</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Non-controlling
  interest</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">18,03</font><font face=Arial,sans-serif style="font-size:10.0pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">17,981</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></i></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><i><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; Summarized
statement</font></i><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></i><i><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> of profit or
loss and </font></i><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">other
</font></i><i><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">comprehensive
income</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><i><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></i></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.68%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Revenue</font><font face=Arial,sans-serif style="font-size:10.0pt;">s&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">60,</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">03</font><font face=Arial,sans-serif style="font-size:10.0pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">66,252</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">76,055</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Operating expenses</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">(36,761</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">(40,584</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(46,</font><font face=Arial,sans-serif style="font-size:10.0pt;">4</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">55&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Other income
  (expenses)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">(180</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">48</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">105</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Profit before </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">income </font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">tax&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">23,090</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">25,716</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">29,7</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">05&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Income tax expense -
  net</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">(5,748</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">(6,333</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(7,361</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Profit
  for the year from continuing operations</font></b></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">17,342</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">19,38</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">22,3</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">4</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Other comprehensive
  income (expenses) - net</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">404</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">(122</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(1</font><font face=Arial,sans-serif style="font-size:10.0pt;">67&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Net
  comprehensive income for the year</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">17,746</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">19,26</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">1&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">22,177</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Attributable to non-controlling
  interest</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">6,211</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">6,740</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7,760</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Dividend paid to
  non-controlling interest</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">4,675</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">5,464</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7,8</font><font face=Arial,sans-serif style="font-size:10.0pt;">1</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">0&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font></b><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Summarized statements of cash flows</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.68%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Operating
  activities</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">29,602</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">30,863</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">36,130</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Investing
  activities</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(14,444</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(11,052</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(12,951</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Financing
  activities</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(14,789</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(15,563</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(19,456</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Net
  increase in cash and cash equivalents</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">369</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4,248</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3,723</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;text-decoration:none;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_235"></a><a name="_bclPageBorder235"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">20</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; CAPITAL STOCK </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;text-align:justify;text-indent:-21.3pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:18.9pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The details of capital
stock are as follows:</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.84%;">
 <tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Description</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Number of shares</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Percentage of ownership</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Total paid-up capital</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Series A Dwiwarna share</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Government</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Series B shares</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Government</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">51,602,353,559</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">52.56</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,580</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">The Bank of New York Mellon Corporation*</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">9,472,920,180</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">9.65</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">474</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=FR style="font-size:9.0pt;">Directors (Note 1b):</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=FR style="font-size:9.0pt;">Indra Utoyo</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">27,540</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Honesti Basyir</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">540</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Dian Rachmawan</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">60,540</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Public (individually less than 5%)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">37,100,491,240</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">37.79</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,855</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Total</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">98,175,853,600</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">100.00</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">4,909</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Treasury stock (Note 2</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,624,142,800</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">131</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">100,799,996,400</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">100.00</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">5,040</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:32.85pt;text-indent:-14.85pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.84%;">
 <tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Description</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Number of shares</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Percentage of ownership</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Total paid-up capital</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Series A Dwiwarna share</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Government</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Series B shares</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Government</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">51,602,353,559</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">5</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2.55&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,580</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">The Bank of New York Mellon Corporation*</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">8,161,361,980</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">8.31</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">408</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Commissioners (Note 1b):</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Hendri Saparini</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">18,982</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Dolfie Othniel Fredric Palit</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">17,084</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Hadiyanto</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">519,640</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Parikesit Suprapto</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">502,555</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=FR style="font-size:9.0pt;">Directors (Note 1b):</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Alex J</font><font face=Arial,sans-serif style="font-size:9.0pt;">anangkih&nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;"> Sinaga</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">42,723</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Heri Sunaryadi</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">37,965</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=FR style="font-size:9.0pt;">Indra Utoyo</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,182,295</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Muhammad Awaluddin</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,154,755</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Honesti Basyir</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,155,295</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Herdy Rosadi Harman</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">37,663</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Abdus Somad Arief</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">37,965</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Dian Rachmawan</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">98,505</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Public (individually less than 5%)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">38,429,695,633</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">39.14</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,922</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Total</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">98,198,216,600</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">100.00</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">4,910</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Treasury stock (Note 22)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,601,779,800</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">130</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=49% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">100,799,996,400</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">100.00</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">5,040</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><sup><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></sup></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">* The Bank of New York
Mellon Corporation serves as the Depositary of </font><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">the </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">registered ADS holders
for the Company&#8217;s ADSs.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_236"></a><a name="_bclPageBorder236"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader236"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.7pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">0</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. CAPITAL STOCK</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Company issued only 1 Series A Dwiwarna share which is held by the Government
and can not be transferred to any party, and has a veto in the General Meeting
of Stockholders of
the Company with respect to election and removal from the Boards of
Commissioners and Directors, issuance of new shares, and amendments of the
Company&#8217;s Articles of Association.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Pursuant to the AGM
of Stockholders of the Company as stated in notarial deed No. 38 dated April
19, 2013 of Ashoya Ratam, S.H., Mkn., the Company&#8217;s stockholders approved the
distribution of cash dividend and special cash dividend for 2012 amounting to
Rp7,068 billion (Rp73.82 per share) and Rp1,286 billion (Rp13.42 per share),
respectively. On June 18, 2013, the Company paid the cash dividend and special
cash dividend totalling Rp8,354 billion.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Pursuant to</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> the AGM of
Stockholders of the Company as stated in notarial </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">deed&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> No. 4 dated April </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> of Ashoya Ratam, S.H., MKn., the
Company&#8217;s stockholders approved the distribution of cash dividend and special
cash dividend for 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
amounting to Rp7,</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">81</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3 billion (Rp80.46
per share) and Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">13</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">0 billion (Rp21.94
per share), respectively. On </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">May&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 16, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, the Company paid
the cash dividend and special cash dividend totalling Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">9</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">943 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">billion.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Pursuant to</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> the AGM of
Stockholders of the Company as stated in notarial </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">deed&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> No. </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">26&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> dated April </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">17</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> of Ashoya Ratam,
S.H., MKn., the Company&#8217;s stockholders </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">approved&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> the distribution of cash dividend and
special cash dividend for 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> amounting to Rp7,</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">319&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(Rp74.55 per
share) </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">and
Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1,464&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (Rp14.91 per
share)</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,
respectively. On </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">May 21</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, the Company paid
the cash dividend and special cash dividend totalling Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8,783</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;billion.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; ADDITIONAL PAID-IN
CAPITAL</font></b></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">The
breakdown of additional paid-in capital is as follows:</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.68%;">
 <tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Proceeds from sale of 933,333,000 shares in excess of par
  value through IPO in 1995</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">1,446</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,446</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Excess of value over cost of selling 21</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">5</font><font face=Arial,sans-serif style="font-size:9.0pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">000</font><font face=Arial,sans-serif style="font-size:9.0pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">00</font><font face=Arial,sans-serif style="font-size:9.0pt;">0 shares under the treasury stock
  plan phase I</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">I&nbsp;</font><font face=Arial,sans-serif style="font-size:9.0pt;"> (Note 2</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">576</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">576</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Excess of value over cost of selling </font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">211,290,500&nbsp;</font><font face=Arial,sans-serif style="font-size:9.0pt;">
  shares under the treasury stock plan phase I (Note 2</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">544</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">544</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Excess of value over cost of treasury stock</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">
  for</font><font face=Arial,sans-serif style="font-size:9.0pt;"> employee stock ownership program (Note 2</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">228</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">228</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Excess of value over cost of selling 4,472,600 shares
  under the treasury stock plan phase I</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">II&nbsp;</font><font face=Arial,sans-serif style="font-size:9.0pt;"> (Note 2</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">36</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Capitalization into 746,666,640 Series B shares in 1999</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">(373</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(373</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Net</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,421</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,457</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;text-align:justify;text-indent:-21.3pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. TREASURY STOCK</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;text-align:justify;text-indent:-21.3pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.68%;">
 <tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Maximum Purchase</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Phase</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Basis</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Period</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Number of shares</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">I</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">EGM</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">December 21, 2005 -
  June 20, 2007</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1,007,999,964</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp5,250</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">II</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">AGM</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">June 29, 2007 - December
  28, 2008</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">215,000,000</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp2,000</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">III</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">AGM</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">June 20, 2008 - December
  20, 2009</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">339,443,313</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp3,000</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">BAPEPAM - LK</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">October 13, 2008 -
  January 12, 2009</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">4,031,999,856</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp3,000</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">IV</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">AGM</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">May 19, 2011 -
  November&nbsp;20, 2012</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">645,161,290</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">Rp5,000</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Movements in treasury stock as a
result of the repurchase of shares are as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.68%;">
 <tr>
  <td valign=bottom width=30% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=30% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Number of shares</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">%</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Rp</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Number of shares</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">%</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Rp</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=30% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Beginning balance</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">3,699,142,800</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">3.67</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">5,805</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2,624,142,800</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2.60</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">3,836</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=30% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">S</font><font face=Arial,sans-serif style="font-size:7.0pt;">ale of treasury stock</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,075,000,000</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1.07</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,969</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(22,363,000</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(0.02</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(32</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=30% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Ending balance</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">2,624,142,800</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">2.60</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">3,836</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2,601,779,800</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2.58</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">3,804</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Pursuant to the AGM of
Stockholders of the Company held on June 11, 2010, the stockholders approved
the change in the Company&#8217;s plan for treasury stock phases I, II, and III to
become: (i) for reissuance inside or outside the stock exchange, (ii) for
retirement of the stock by deducting from equity, (iii) for equity stock
conversion and (iv) for funding purposes.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Pursuant to the AGM
of Stockholders of the Company held on May 19, 2011, the </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">tockholders
approved to execute the repurchase plan for treasury stock </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">p</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">hase IV.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">In 2012, the Company
bought back 237,270,500 shares </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(equivalent to 1,186,352,500 shares after stock split) </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">from </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">public (</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">part of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">stock
repurchase program </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">p</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">hase IV) for
Rp1,744 billion.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">In the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">AGM&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> on April 19, 2013,
the Company's stockholders approved the change to the plan for the treasury
stock phase III, which was decided to be used for the implementation of the
Employee Stock Ownership Program (&#8220;ESOP&#8221;) for the year 2013</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">On May 31, 2013, the Company
offered all its eligible employees and those of its subsidiaries (collectively
referred to as the &#8220;participants&#8221;), the right to purchase a fixed number of its
shares at a certain price. The shares became an entitlement of the employees on
the transaction dates and were no longer conditional on the satisfaction of any
vesting conditions. Shares which were held by employees through the ESOP had a
lock-up period that varied from 0 up to 12 months, depending on the position of
the employee. In the lock-up period, participants could not transfer shares or
have shares transactions either through or outside the stock exchange.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Price per share offered was
Rp10,714 and each participant received allowance (discount) of Rp5,575 per
share. At the closing of this program, the Company had transferred a part of
the treasury stock phase III to employees totalling 59,811,400 shares
(equivalent to 299,057,000 shares after the stock split) with fair value
amounting to Rp661 billion. The excess amounting to Rp228 billion in value of
the treasury stock transferred over their acquisition cost was recorded as
additional paid-in capital (Note 2</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">). &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The difference amounting to
Rp353 billion between the fair value of treasury stock and amount paid by the
participants was recorded as part of &#8220;Personnel Expense&#8221; in the 2013
consolidated statement of profit or loss and other comprehensive income.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">2</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">. TREASURY STOCK</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">On July 30, 2013, the Company
resold 211,290,500 shares (equivalent to 1,056,452,500 shares after stock
split) of treasury stock phase I with fair value amounting to Rp2</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">,368&nbsp;</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">
billion</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> (net of related costs to sell the shares)</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">. The
excess amounting to Rp544 billion in value of the treasury shares sold over
their acquisition cost was recorded as additional paid-in capital (Note 2</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">).&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">On </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">June 13</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">,
</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">, the Company resold </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">215,000,000&nbsp;</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">
shares (equivalent to </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,075,000,000&nbsp;</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> shares after stock
split) of treasury stock phase </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">II&nbsp;</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> with fair value
amounting to Rp</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2,541&nbsp;</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion (net of </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">related&nbsp;</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">
cost</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">s </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">to sell the shares). The excess amounting to Rp</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">576&nbsp;</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion in value of the treasury stock sold over their
acquisition cost was recorded as additional paid-in capital (Note 2</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">).&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">On December 21,
2015, the Company resold 4,472,600 shares (</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">equivalent&nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> to
22,363,000 shares after stock split) of treasury stock phase III with fair
value amounting to Rp68 billion (net of related costs to sell the shares). The
excess amounting to Rp36 billion in value of the treasury stock sold over their
acquisition cost was recorded as additional paid-in capital (Note 21).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. OTHER RESERVES </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Other
reserves consist of the translation reserve and fair value reserve. The translation
reserve consists of all foreign currency differences arising from the
translation of the financial statements of foreign operations (including
equity-accounted investees) amounting to Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">184&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and Rp312
billion </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">as
of December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively. The
amount reclassified to profit or loss for the years ended December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> amounted to Rp9
billion, Rpnil</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
and Rpnil</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:1.1pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The fair value
reserve consists of the cumulative net change in the fair value of available-for-sale
financial assets until the investments are derecognized or impaired amounting
to Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">39&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and Rp38 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">billion as of
December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">respectively. The
amounts reclassified to profit or loss for the years ended December 31, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2013</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> amounted to Rp4
billion, Rpnil and </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Rpnil</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:1.1pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:1.15pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; BASIC AND DILUTED EARNINGS
PER SHARE</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:1.1pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Basic earnings per
share is computed by dividing profit for the year attributable to owners of the
parent company amounting to Rp1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">046&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion, Rp14,</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">437&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion and Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">15,451&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion by the
weighted average number of shares outstanding during the year totalling
96,358,660,797 shares, 97,695,785,107 shares and 98,176,527,5</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3 shares for the
years ended December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively. The
weighted average number of shares takes into account the weighted average
effect of changes in treasury stock transactions during the year.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Basic
earnings per share amounted to</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Rp14</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">77</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, Rp147.78 and Rp157.38 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">for the years ended
December 31,</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
2013,</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively. The
Company does not have potentially dilutive financial instruments as of December
31, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2013,
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. REVENUES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.68%;">
 <tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Telephone revenues</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Cellular</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=FR style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Usage charges</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=FR style="font-size:9.0pt;">30,</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">722&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">32,972</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">35,</font><font face=Arial,sans-serif style="font-size:9.0pt;">8</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font><font face=Arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Features</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">686</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">751</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,0</font><font face=Arial,sans-serif style="font-size:9.0pt;">50&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Monthly subscription charges</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">730</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">567</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">432</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">32,1</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">38&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">34,290</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">37,285</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Fixed lines</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Usage charges</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">6,453</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">5,347</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">4,635</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Monthly subscription charges</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">2,682</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,697</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,8</font><font face=Arial,sans-serif style="font-size:9.0pt;">21&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Call center</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">119</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">290</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">275</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">2</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">42&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">101</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">102</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">9,496</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">8,435</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">7,833</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Total telephone revenues</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">41,634</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">42,725</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">45,118</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Interconnection revenues</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Domestic interconnection</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">2,971</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,908</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,276</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">International interconnection</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">1,872</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,800</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,014</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Total </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">i</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">nterconnection </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">r</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">evenues&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">4,843</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">4,708</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">4,290</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Data, </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">i</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">nternet and </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">i</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">nformation </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">t</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">echnology
  </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">service revenues</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Cellular internet and data</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">1</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font><font face=Arial,sans-serif style="font-size:9.0pt;">,1</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">13&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">13,563</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">19,665</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Short Messaging Services (&#8220;SMS&#8221;)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">13,134</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">14,034</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1</font><font face=Arial,sans-serif style="font-size:9.0pt;">5</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">,</font><font face=Arial,sans-serif style="font-size:9.0pt;">132&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Internet, data communication and information technology
  services</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">9,154</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">9,987</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">12,432</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Pay TV</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">274</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">96</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">456</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">202</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">128</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">135</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Total</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;"> data, internet and
  information technology s</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">ervice </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">r</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">evenues&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">32,877</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">37,808</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">47,820</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Network revenues</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Leased lines</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">861</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">610</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">719</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Satellite transponder lease</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">392</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">670</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">512</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Total </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">n</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">etwork </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">r</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">evenues&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">1,253</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,280</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">1</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">,</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">231&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Other telecommunication</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">s&nbsp;</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;"> revenues</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Sales of handset</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">84</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">582</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,516</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Tower leases</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">570</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">700</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">721</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Call center service</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">205</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">446</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">668</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">CPE and terminal</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">1</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">00&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">61</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">221</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,401</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,386</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">885</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Total </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">o</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">ther </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">t</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">elecommunications </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">r</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">evenues&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,360</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">3</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">,</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">175&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">4,011</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">T</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">otal revenues</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">8</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">,</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">967&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">89,696</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">102,470</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:1.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:35.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-17.85pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;line-height:50%;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Refer to
Note 3</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> for details of related party transactions</font><font color=black face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">.&nbsp;</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">2</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6</font></b><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; </font></b><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;text-transform:uppercase;">SERVICE CONCESSION ARRANGEMENT</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Ministry
of Communication and Information (&#8220;MoCI&#8221;) issued Regulation No.
15/PER/M.KOMINFO/9/2005 dated September 30, 2005, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">which sets forth the
basic policies underlying the USO program and requires telecommunications
operators in Indonesia to contribute 0.75% of their gross revenues (with due
consideration for bad debts and interconnection charges) for USO development.
Based on the Government&#8217;s Decree No. 7/2009 dated January 16, 2009 and Decree
No. 05/PER/M.KOMINFO/2/2007 dated February 28, 2007, the contribution was
changed to 1.25% of gross revenues, net of bad debts and/or interconnection
charges and/or
connection charges.
Subsequently,
in
December 2012, Decree No. 05/PER/M.KOMINFO/2/2007 was replaced by Decree No. 45
year 2012 of the MoCI which was effective from January 22, 2013. The latest
Decree stipulates, among other things, the exclusion of certain revenues that
are not considered as part of gross revenues as a basis to calculate the USO
charged, and changed the payment period which was previously on a quarterly
basis to become quarterly or semi-annually.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Based </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">on </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">MoCI Decree No.
32/PER/M.KOMINFO/10/2008 dated October 10, 2008 (as amended by Decree No.
03/PER/M.KOMINFO/2/2010 dated February 1, 2010) which replaced MoCI Decree No.
11/PER/M.KOMINFO/04/2007 dated April 13, 2007 and MoCI Decree No.
38/PER/M.KOMINFO/9/2007 dated September 20, 2007, it is stipulated that, among
others, in providing telecommunication access and services in rural areas (USO
Program), the provider is determined through a selection process b</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">y </font><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Balai Telekomunikasi
dan Informatika Pedesaan </font></i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(&#8220;BTIP&#8221;) which was established based on MoCI Decree No.
35/PER/M.KOMINFO/11/2006 dated November 30, 2006. </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Subsequently, based
on Decree No.
18/PER/M.KOMINFO/11/2010
dated November 19, 2010 of MoCI, BTIP was changed to </font><i><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Balai Penyedia dan
Pengelola Pembiayaan Telekomunikasi dan Informatika</font></i><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (&#8220;BPPPTI&#8221;).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&#160; The Company</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">On March 12, 2010,
the Company was selected in a tender by the Government through BTIP to provide
internet access service centers for USO sub-districts for a total amount of
Rp322 billion, covering Nanggroe Aceh Darussalam, North Sumatra, North
Sulawesi, Gorontalo, Central Sulawesi, West Sulawesi, South Sulawesi and South
East Sulawesi.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">On
December 23, 2010, the Company was selected in a tender by the Government
through </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">B</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">PPPTI to provide
mobile internet access service centers for USO sub-districts for a total amount
of Rp528 billion, covering Jambi, Riau, Kepulauan Riau, North Sulawesi, Central
Sulawesi, Gorontalo, West Sulawesi, South East Sulawesi, Central Kalimantan,
South Sulawesi, Papua and West Irian Jaya.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">I</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">n 2015, the program
was ceased. On September 8, 2015, the Company filed an arbitration claim to the
Indonesia National Board of Arbitration (&#8220;BANI&#8221;) for the settlement of the
outstanding receivables of USO-PLIK and USO-MPLIK. As of the </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">date of approval and authorization for the issuance</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
of the consolidated financial statements, the arbitration claim is still in
process.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.&#160; Telkomsel</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">On January 16 and 23,
2009, Telkomsel was selected in a tender by the Government through BTIP to
provide telecommunication access and services in rural areas (USO Program) for
a total amount of Rp1.66 trillion, covering all Indonesian territories except
Sulawesi, Maluku and Papua. </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Accordingly, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Telkomsel obtained local fixed-line
licenses and the right to use radio frequency in the 2</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">,</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">390 Megahertz (&#8220;MHz&#8221;)
- 2</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">,</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">400 MHz bandwith.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Subsequently, in 2010
and 2011, the agreements with BPPPTI were amended, which amendments cover,
among other things, changing the price to Rp1.76 trillion and changing the term
of payment from quarterly to monthly or quarterly. In January 2010, the MoCI
granted Telkomsel operating licenses to provide local fixed-line services under
the USO program.</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">26.</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160; </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">SERVICE
CONCESSION ARRANGEMENT (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.&#160; Telkomsel (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">On
December 27, 2011, Telkomsel (on behalf of Konsorsium Telkomsel, a consortium
which was established with Dayamitra on December 9, 2011) was selected by
BPPPTI as a provider of the USO Program in the border areas for all packages
(package 1 to package 13) with a total price of Rp830 billion. On such date,
Telkomsel was also selected by BPPPTI as a provider of the USO Program
(upgrading) of &#8220;Desa Pinter&#8221; or &#8220;Desa Punya Internet&#8221; for</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> packages </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1, 2 and 3 with a
total price of Rp261 billion.</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">On </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">March 31</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, the USO program</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> for packages
1,<sup> </sup>2,<sup> </sup>3,<sup> </sup>6<sup> </sup>and 7 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ceased.&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> As of
September </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8, 2014,
Telkomsel filed an arbitration claim </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">to&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> BANI for the settlement of the outstanding
receivable from BPPPTI. On October 23, 2015, BANI decided that Telkomsel had to
return the overpayment of compensation fee from BPPPTI of Rp94.2 billion
including penalty. Telkomsel accepted the decision and paid the balance in
December 2015. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:22.05pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">For the
years ended December 31, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2013, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015,</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> the Company and Telkomsel recognized
the following amounts:&#160;&#160;&#160;&#160; </font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:9.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:22.5pt;width:97.1%;">
 <tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Revenues</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Construction</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">67</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Operation of
  telecommunication service cent</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">er&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">508</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">180</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Profits (losses)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Construction</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">11</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Operation of
  telecommunication service cent</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">er&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">150</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(139</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(</font><font face=Arial,sans-serif style="font-size:10.0pt;">161&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:22.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">As of </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">December 31, 2014 and 2015</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">, the Company&#8217;s and Telkomsel&#8217;s net carrying amount </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">of </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">trade
receivables from the USO program</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">s </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">which are measured at amortized cost using the effective interest method amounted to Rp</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">588&nbsp;</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">
billion </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">and Rp179</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> billion</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">, respectively </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Note </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">).&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">27</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; PERSONNEL
EXPENSES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The breakdown of
personnel expenses is as follows:</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:22.5pt;width:97.1%;">
 <tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Vacation pay, incentives and
  other benefits</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">3,</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">252&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3,182</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">4</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">,225&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Salaries and related benefits</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">3,55</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3,759</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4,052</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Employees&#8217; income tax</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">1,160</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,317</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,6</font><font face=Arial,sans-serif style="font-size:10.0pt;">32&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Early retirement
  program</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">683</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Pension benefit cost</font><font face=Arial,sans-serif style="font-size:10.0pt;"> (Note 3</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2</font><font face=Arial,sans-serif style="font-size:10.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">988</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">643</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4</font><font face=Arial,sans-serif style="font-size:10.0pt;">43&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Post</font><font face=Arial,sans-serif style="font-size:10.0pt;">-</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">employment
  health care benefit cost (Note 32)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">382</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">248</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">216</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Housing</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">220</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">224</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">212</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">LSA expense (Note </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">33</font><font face=Arial,sans-serif style="font-size:10.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">19</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">115</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">152</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Insurance</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">92</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">98</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">138</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Other employee
  benefit</font><font face=Arial,sans-serif style="font-size:10.0pt;"> cost (Note 3</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2</font><font face=Arial,sans-serif style="font-size:10.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">56</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">53</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">O</font><font face=Arial,sans-serif style="font-size:10.0pt;">ther post-employment benefit cost (Note 3</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2</font><font face=Arial,sans-serif style="font-size:10.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">41</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">48</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">47</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">107</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8</font><font face=Arial,sans-serif style="font-size:10.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">32</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">9,82</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">9&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">9,776</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">11,8</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">85&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.5pt;text-align:justify;text-indent:5.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.5pt;text-align:justify;text-indent:5.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Refer to
Note 3</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> for details of
related party transactions.</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_242"></a><a name="_bclPageBorder242"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader242"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">28.</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160; </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">OPERATIONS,
MAINTENANCE AND TELECOMMUNICATION SERVICE EXPENSES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The breakdown of
operations, maintenance and telecommunication service expenses is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:0pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.84%;">
 <tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Operations and
  maintenance</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">9</font><font face=Arial,sans-serif style="font-size:10.0pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">658&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">11,827</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">15,658</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Radio frequency
  usage charges (Note</font><font face=Arial,sans-serif style="font-size:10.0pt;">s </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">36</font><font face=Arial,sans-serif style="font-size:10.0pt;">c.i&nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> and 36c.ii</font><font face=Arial,sans-serif style="font-size:10.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">3,098</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3,207</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3,626</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Concession fees and
  USO</font><font face=Arial,sans-serif style="font-size:10.0pt;"> c</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">harges&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">1,59</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,818</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2,230</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Cost of handset sold
  (Note 8)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">153</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">421</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,493</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Leased lines and CPE</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">4</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">40&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">758</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,384</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Electricity, gas and water</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">1,063</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,180</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,014</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Cost of IT services</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">677</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">357</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">882</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Tower rent</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,166</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,065</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">646</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Cost of SIM</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> cards and vouchers </font><font face=Arial,sans-serif style="font-size:10.0pt;">(Note 8)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">599</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">610</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">444</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Insurance</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">374</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">335</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">312</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Vehicles rental and
  supporting facilities</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">282</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">272</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">296</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Project m</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">anagement&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">13</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">180</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">117</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">89</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">258</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">14</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">19,332</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">22,288</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">28,116</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:7.0pt;line-height:50%;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; Refer to Note 3</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> for details of
related party transactions.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">29.&#160; GENERAL
AND ADMINISTRATIVE EXPENSES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The breakdown of
general and administrative expenses is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.84%;">
 <tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">General expenses</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">675</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">967</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,032</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Provision for impairment of
  receivables (Note 7d)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,5</font><font face=Arial,sans-serif style="font-size:10.0pt;">89&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">784</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,01</font><font face=Arial,sans-serif style="font-size:10.0pt;">0&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Professional fees</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">272</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">266</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">424</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Training, education and
  recruitment</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">4</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">12&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">528</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">393</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Collection expenses</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">340</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">369</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">368</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Travelling</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">341</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">355</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">347</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Meeting</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">138</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">162</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">163</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Social contribution</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">85</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">96</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">116</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Security and screening</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">93</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">104</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">81</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Others</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> (each below Rp75 billion)</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">210</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">332</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2</font><font face=Arial,sans-serif style="font-size:10.0pt;">70&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">4,155</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3,963</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4,204</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Refer to Note 3</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> for details of
related party transactions.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">0</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; INTERCONNECTION
EXPENSES</font></b></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The breakdown of
interconnection expenses is as follows:</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:7.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.84%;">
 <tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Domestic interconnection and </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">access&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">3,720</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3,639</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2,351</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">International interconnection</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">1,207</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,254</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,</font><font face=Arial,sans-serif style="font-size:10.0pt;">235&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">4,92</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4,893</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3,</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">586&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Refer to Note 34 for details of
related party transactions</font><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">.&nbsp;</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. TAXATION</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&#160;&#160; Prepaid income taxes</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The breakdown of
prepaid income taxes is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">The Company - c</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">orporate income tax</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">60</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">479</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Sub</font><font face=Arial,sans-serif style="font-size:10.0pt;">si</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">diaries&nbsp;</font><font face=Arial,sans-serif style="font-size:10.0pt;"> - corporate income tax</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">391</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">306</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Total</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">451</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">785</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Current
  portion</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(28</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(81</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Non-current
  portion (Note 12)</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">423</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">704</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><sup><font face=Arial,sans-serif lang=EN-US style="font-size:13.0pt;line-height:50%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></sup></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.&#160;&#160; Prepaid other taxes</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The breakdown of
prepaid other taxes is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">The Company </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">:&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Value
  Added Tax (&#8220;VAT&#8221;)</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">298</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">648</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Article 19 </font><font face=Arial,sans-serif style="font-size:10.0pt;">-&nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> Revaluation of fixed assets</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">750</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">S</font><font face=Arial,sans-serif style="font-size:10.0pt;">ubsidiaries:&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">VAT</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,140</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,548</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Article
  23 - Withholding tax on services delivery</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">37</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">20</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Total</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,475</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2,966</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Current
  portion</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,153&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(2,657</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Non-current
  portion (Note 12)</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">322</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">309</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">c.&#160;&#160; </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Current
income tax liabilities</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The breakdown of
current income tax liabilities is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">The Company:</font></p>
  </td>
 <td valign=top width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Article
  25 - Installment of corporate income tax</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6</font><font face=Arial,sans-serif style="font-size:10.0pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">17</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">S</font><font face=Arial,sans-serif style="font-size:10.0pt;">ubsidiaries:&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Article
  25 - Installment of corporate income tax</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">483</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">237</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Article
  29 - Corporate income tax</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">957</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,548</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,501</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,802</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><sup><font face=Arial,sans-serif lang=EN-US style="font-size:13.0pt;line-height:50%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></sup></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC2"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">3</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1</font></b><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">. TAXATION</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">d.&#160;&#160; Other tax
liabilities</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> &nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The breakdown of
other tax liabilities is as follows:</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=59% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">The Company:</font></p>
  </td>
 <td valign=top width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Article
  4 (2) - Final tax</font></p>
  </td>
 <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">27</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">37</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Article
  21 - Individual income tax</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">25</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">51</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Article
  22 - Withholding tax on goods delivery and imports</font></p>
  </td>
 <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Article
  23 - Withholding tax on services</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">10</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">23</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Article
  26 - Withholding tax on non-resident income</font></p>
  </td>
 <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">VAT</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1</font><font face=Arial,sans-serif style="font-size:10.0pt;">9</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">VAT - Tax Collector</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">257</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">396</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">520</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">511</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">S</font><font face=Arial,sans-serif style="font-size:10.0pt;">ubsidiaries:&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Article
  4 (2) - Final tax</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">81</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">54</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Article
  21 - Individual income tax</font></p>
  </td>
 <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">97</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">113</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Article
  22 - Withholding tax on goods delivery and imports</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">1</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Article
  23 - Withholding tax on services</font></p>
  </td>
 <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">72</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">102</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Article
  26 - Withholding tax on non-resident income</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">28</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">9</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">VAT</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">77</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">68</font><font face=Arial,sans-serif style="font-size:10.0pt;">1&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">355</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">960</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=59% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">875</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,471</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; e.&#160;&#160; The
components of income tax expense (benefit) are as follows:</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Current</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">The Company</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">909</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">822</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">201</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Subsidiaries</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">6,0</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">86&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6,794</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8,1</font><font face=Arial,sans-serif style="font-size:10.0pt;">64&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6,995</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7,616</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8,3</font><font face=Arial,sans-serif style="font-size:10.0pt;">65&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Deferred</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">The Company</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(113</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(1</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">74&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(38</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Subsidiaries</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">18</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(10</font><font face=Arial,sans-serif style="font-size:10.0pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">304&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Net</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(9</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(275</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(342</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Net income tax expense</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">6,</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">900&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7,341</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8,023</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:35.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-17.85pt;"><sup><b><font face=Arial,sans-serif lang=X-NONE style="font-size:13.0pt;line-height:50%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b></sup></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_245"></a><a name="_bclPageBorder245"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. TAXATION</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:1.1pt;margin-top:0in;text-align:justify;text-indent:-16.65pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">f.&#160;&#160; Reconciliation
of income tax expense </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
reconciliation between the income tax expense calculated by applying the
applicable tax rate of 20% to the profit before income tax less income subject
to final tax, and the net income tax expense as shown in the consolidated </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">tatements of profit
or loss and other comprehensive income is as follows:</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Profit before income tax</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">27,0</font><font face=Arial,sans-serif style="font-size:10.0pt;">30&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">28,5</font><font face=Arial,sans-serif style="font-size:10.0pt;">79&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">31</font><font face=Arial,sans-serif style="font-size:10.0pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2</font><font face=Arial,sans-serif style="font-size:10.0pt;">93&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Less income subject to final
  tax</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(1,7</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">80&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(2,334</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(</font><font face=Arial,sans-serif style="font-size:10.0pt;">1,531&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Net</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">25,250</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">26,</font><font face=Arial,sans-serif style="font-size:10.0pt;">245&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2</font><font face=Arial,sans-serif style="font-size:10.0pt;">9,762&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Income tax expense
  calculated at the Company&#8217;s applicable statutory tax rate of
  20%</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5,0</font><font face=Arial,sans-serif style="font-size:10.0pt;">50&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5,2</font><font face=Arial,sans-serif style="font-size:10.0pt;">49&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=Arial,sans-serif style="font-size:10.0pt;">,952&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Difference in applicable
  statutory tax rate for subsidiaries</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,213</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,236</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1</font><font face=Arial,sans-serif style="font-size:10.0pt;">,509&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Non-deductible expenses</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=Arial,sans-serif style="font-size:10.0pt;">67&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=Arial,sans-serif style="font-size:10.0pt;">12&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">3</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3</font><font face=Arial,sans-serif style="font-size:10.0pt;">2&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Final income tax expense</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">93</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">168</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1</font><font face=Arial,sans-serif style="font-size:10.0pt;">11&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Realization on sale of
  long-term investment</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(100</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Defer</font><font face=Arial,sans-serif style="font-size:10.0pt;">r</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">ed
  tax assets that cannot be utilized - net</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">84</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">94</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(7</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">82</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">11</font><font face=Arial,sans-serif style="font-size:10.0pt;">9&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Net income tax expense</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6,</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">900&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7,</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">341&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8,0</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">23&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
computations of the net income tax expense for the years ended December 31, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2013, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> are as follows:</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Estimated taxable income of
  the Company</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4,241</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3,687</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">552</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Corporate income tax:</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">The Company</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">848</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">73</font><font face=Arial,sans-serif style="font-size:10.0pt;">8&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">110</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Subsidiaries</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6,0</font><font face=Arial,sans-serif style="font-size:10.0pt;">54&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6,7</font><font face=Arial,sans-serif style="font-size:10.0pt;">10&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8</font><font face=Arial,sans-serif style="font-size:10.0pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">144&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Final tax expense:</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">The Company</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">61</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8</font><font face=Arial,sans-serif style="font-size:10.0pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">91</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Subsidiaries</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">32</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">84</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">20</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Total income tax expense -
  current</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">6,995</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7,</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">616&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8,3</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">65&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_246"></a><a name="_bclPageBorder246"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. TAXATION
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:1.1pt;margin-top:0in;text-align:justify;text-indent:-17.55pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">f.&#160;&#160;&#160; Reconciliation
of income tax expense </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(continued)&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:1.1pt;margin-top:0in;text-align:justify;text-indent:-17.55pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Income tax (benefit)
  expense - deferred - effect of temporary differences at enacted maximum tax rates</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">The Company</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Depreciation and gain on
  sale of property and equipment</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(38</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(8</font><font face=Arial,sans-serif style="font-size:10.0pt;">5&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">139</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">T</font><font face=Arial,sans-serif style="font-size:10.0pt;">rade receivables</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> write</font><font face=Arial,sans-serif style="font-size:10.0pt;">-</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">off (p</font><font face=Arial,sans-serif style="font-size:10.0pt;">rovision&nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> for impairm</font><font face=Arial,sans-serif style="font-size:10.0pt;">e</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">nt of receivables)</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(170</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(24</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">41</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Amortization of intangible
  assets, land rights and others</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Amortization </font><font face=Arial,sans-serif style="font-size:10.0pt;">of </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(addition&nbsp;</font><font face=Arial,sans-serif style="font-size:10.0pt;"> to</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">) d</font><font face=Arial,sans-serif style="font-size:10.0pt;">eferred installation fee</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(16</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Realization </font><font face=Arial,sans-serif style="font-size:10.0pt;">of accrual of early retirement benefits</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">140</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Realization </font><font face=Arial,sans-serif style="font-size:10.0pt;">of accrual </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(accru</font><font face=Arial,sans-serif style="font-size:10.0pt;">al</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">) </font><font face=Arial,sans-serif style="font-size:10.0pt;">of </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">expenses and inventory writ</font><font face=Arial,sans-serif style="font-size:10.0pt;">e</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">-off
  (provision for </font><font face=Arial,sans-serif style="font-size:10.0pt;">inventory
  </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">obsolescence)&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(5</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(4</font><font face=Arial,sans-serif style="font-size:10.0pt;">9&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(135</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Finance leases</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(73</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(13</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(47</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Net periodic
  post-employment benefits costs and provision for employee benefits</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(18</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(</font><font face=Arial,sans-serif style="font-size:10.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(28</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Valuation of </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">l</font><font face=Arial,sans-serif style="font-size:10.0pt;">ong-term
  investment</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">70</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(24</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Net</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(113</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(</font><font face=Arial,sans-serif style="font-size:10.0pt;">1</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">74&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(38</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Telkomsel</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Charges from leasing
  transactions</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">98</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">133</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">131</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Depreciation of property and
  equipment</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(95</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(224</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(350</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Provision for employee
  benefits</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(44</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(27</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(18</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">T</font><font face=Arial,sans-serif style="font-size:10.0pt;">rade receivables</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> write</font><font face=Arial,sans-serif style="font-size:10.0pt;">-</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">off (p</font><font face=Arial,sans-serif style="font-size:10.0pt;">rovision&nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> for impairment of receivables)</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(4</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Amortization of license</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">19</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(9</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Accounts receivable -
  Government</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Net</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(20</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(127</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(255</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Subsidiaries - others - net</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">3</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">26</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(49</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Net income tax benefit -
  deferred</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(95</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(275</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(342</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Income tax expense - net</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6,</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">900&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7,</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">341&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8,0</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">23&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. TAXATION </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:1.1pt;margin-top:0in;text-align:justify;text-indent:-19.35pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">f.&#160;&#160;&#160; Reconciliation
of income tax expense (continued) </font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:4.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Tax Law
No. 36/2008 with implementing rules under Government Regulation No. 77/2013
stipulates a reduction of 5% from the maximum rate applicable to qualifying
listed companies, for those whose stocks are traded in the IDX which meet the
prescribed criteria that the public owns 40% or more of the total fully paid
and traded shares, and such shares are owned by at least 300 parties, with each
party owning less than 5% of the total paid-up shares. These requirements must
be met by a company for a period of 183 days in one tax year. The Company has
met all of the required criteria; </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">therefore, for </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">purpose of
calculating income tax expense and liabilities for the financial reporting
periods </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ended
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December
31, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2014 and 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">the Company
has </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">reduced
the</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
applicable tax rate by 5%</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Company applied the tax rate of 20% for the years ended December 31, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2013, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. The subsidiaries
applied the tax rate of 25% for the years ended December 31, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2013, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">g.&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160; Tax assessments </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(i)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Company</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;margin-right:1.1pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">In
November 2013, the </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">C</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">ompany
received tax underpayment asse</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">sment l</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">etters&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8220;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">SKPKBs</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">) No. 00056/207/07/093/13 to No. 00065/207/07/093/13
dated November 15, 2013, for the underpayment of VAT for the </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">period&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Januar</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">y - </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">September and
November 2007</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
amounting to Rp142 billion</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">On January 20, 2014, the Company filed </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">its&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> objection to the Tax
Authorities.
The
Company</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
has received the rejection of its objection through The Directorate General of
Taxation (&#8220;DGT&#8221;) decision letter</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> No</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">. 2498 to 2504 and 2541 to 2543/WPJ.19/2014 dated December
16 and 18, 2014, respectively. The Company </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">accepted the assessment on the underpayment</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> of VAT
amounting to Rp22 billion (including penalty of Rp10 billion). </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The accepted portion
was</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
charged to </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
2014 </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">consolidated
s</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">tatements
of profit or loss and other comprehensive income</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and the portion of
VAT Interconnection amounting to Rp120 billion (including penalty </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Rp39 billion)
is recognized as claim for tax refund. </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Company has filed an appeal </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">to the rejection </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">of&nbsp;</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;"> the</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> objection</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;"> on underpayment of VAT on
</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Interconnection</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">s </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">No. Tel. 59/KU000/COP-10000000/2015
to No. Tel.
68/KU000/COP-10000000/2015 </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">dated
</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">March 12, 2015.</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;"> As of
the </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">date of approval and authorization for the issuance</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">
of these consolidated financial statements, the </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">preceedings are still
ongoing at the tax court</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;"><font face=arial,sans-serif lang=EN-GB style="font-size:5.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">In November
2014, the Company received SKPKBs as </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">result of </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">tax audit for fiscal year 2011 from
the </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Tax
Authorities</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.
Based on </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
letters</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">,
the Company received VAT </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">un</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">derpayment
asses</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">ment for the
tax period January </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">until&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> December 2011
amount</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ing&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> to Rp182.5
billion (including penalty</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> of</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Rp60 billion) and</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> corporate i</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">ncome tax
underpayment asses</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">ment amount</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ing&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> to Rp2.8
billion (including penalty of Rp929 million). The Company has paid the
underpayment. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
accepted portion on the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">underpa</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">id&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> VAT, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">amounting to Rp4.7 billion (including penalty </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">of </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Rp2 billion) </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">was&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> charged to the 2014
consolidated </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">tatements of profit
or loss and other comprehensive income</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> the</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> portion of VAT
Interconnection amount</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ing
to</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
Rp178 billion
(including
penalty of Rp58 billion) is recognized as claim for tax refund. </font><font color=#222222 face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Company filed an objection
on VAT interconnection assessment in 2011 on January 7,
2015 No. Tel. 03/KU000/COP-10000000/2015
to No. Tel.
14/KU000/COP-10000000/2015 to the
Tax Authorities. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Tax Authorities rejected the
Company&#8217;s objection
through
its</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
decree</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> No</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">. 1907 to
1914 dated October 20, 2015 for the tax period January to August 2011, No</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">. 2026 to
2028 dated November 2, 2015 for the tax period October to December 2011 and No.
2642/WPJ.19/2015 dated December 29, 2015 for the tax period September 2011</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. The Company has
filed an appeal to the rejection of the objection on January 20, 2016. As of
the </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">date of approval and authorization for the
issuance</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> of these consolidated financial statements, the appeal is still
in process. </font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




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<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. TAXATION
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:1.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">g.&#160;&#160; Tax assessments
(continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(ii)&#160;&#160; Telkomsel </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">On
April 21, 2010, the Tax Authorities filed a judicial review request to the
Indonesian Supreme Court (&#8220;SC&#8221;) for the Tax Court&#8217;s acceptance of Telkomsel&#8217;s
request to cancel the Tax Collection Letter (&#8220;STP&#8221;) for the underpayment of
December 2008 income tax Article 25 amounting to Rp429 billion (including a
penalty of Rp8 billion). In May 2010, Telkomsel filed a contra-appeal to the SC.
As of the </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">date of approval and authorization for the issuance</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">
of these consolidated financial statements, the judicial review is still in process.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:1.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:6.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">In
May and June 2012, Telkomsel received the refund of penalty on 2010 income tax
article 25 underpayment amounting to Rp15.7 billion based on the Tax Court&#8217;s
verdict. On July 17, 2012, the Tax Authorities filed a judicial review request
to the SC on the Tax Court&#8217;s Verdict. On September 14, 2012, Telkomsel filed a
contra-appeal to the SC. As of the </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">date of approval and
authorization for the issuance</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;"> of these consolidated financial
statements, the judicial review is still in process. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">On
March 12, 2012, Telkomsel received assessment letters as a result of a tax
audit for the fiscal year 2010 by the Tax Authorities. Based on the letters,
Telkomsel overpaid the corporate income tax and underpaid the value added tax
amounting to Rp597.4 billion and Rp302.7 billion (including penalty of Rp73.3 billion),
respectively. Telkomsel accepted the assessment on the overpayment of corporate
income tax and Rp12.1 billion of the underpayment of the value added tax
(including penalty of Rp6.3 billion). The accepted portion was charged to the
2012 consolidated statement</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;"> of profit </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">or&nbsp;</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">
loss and other comprehensive income. On April 5, 2012, Telkomsel received a
refund for the overpayment of corporate income tax for fiscal year 2010
amounting to Rp294.7 billion, net of underpayment of value added tax. On May
24, 2012, Telkomsel filed an objection to the Tax Authorities for the
underpayment of value added tax of Rp290.6 billion (including penalty of Rp67
billion) and recorded it as a claim for tax refund. On May 1, 2013, the Tax
Authorities rejected Telkomsel&#8217;s objection. Subsequently, on July 29, 2013,
Telkomsel filed an appeal to the Tax Court. On March 16, 2015, the Tax Court
accepted Telkomsel&#8217;s appeal on the 2010 value added tax totaling Rp290.6
billion. On May 13, 2015, Telkomsel received a refund for value added tax
amounting to Rp290.</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">6&nbsp;</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;"> billion. In May 2015, Telkomsel request</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ed the</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">
Tax Authorities to cancel the STP. As </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">of </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">the </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">date of
approval and authorization for the issuance</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;"> of these
consolidated financial statements, the request is still in process and the amount
is recorded as part of claim for tax refund.</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">In
December 2013, the Tax Court accepted Telkomsel&#8217;s appeal on the 2006 value
added tax and withholding taxes totaling Rp116 billion. In February 2014,
Telkomsel received the refund. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. TAXATION
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:1.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">g.&#160;&#160; Tax assessments
(continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(ii)&#160;&#160; Telkomsel
(continued)</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">On
November 7, 2014, Telkomsel received assessment letters as a result of a tax
audit for the fiscal year 2011 by the Tax Authorities. According to the
letters, Telkomsel is liable for the underpayment of corporate income tax,
value added tax and withholding tax amounting to Rp257.8 billion, Rp2.9 billion
and Rp2.2 billion (including penalty of Rp85.3 billion), respectively.
Telkomsel accepted the assessment of Rp7.8 billion of the underpayment of
corporate income tax, Rp1 billion of the underpayment of the value added tax
and Rp2.2 billion of the underpayment of the withholding tax (including penalty
of Rp3.5 billion). The accepted portion was charged to the 2014 consolidated
statement of profit or loss and other comprehensive income. In December 2014,
Telkomsel paid the underpayments and recorded these as claim for tax refund. In
December 2014, Telkomsel filed an objection to the Tax Authorities for the
underpayment of corporate income tax of Rp250 billion (including penalty of
Rp81.1 billion) and value added tax of Rp1.9 billion (including penalty of
Rp670 million), respectively. On November 17, 2015, through its Decision
Letters, the Tax Authorities rejected Telkomsel&#8217;s objection to the corporate
income tax assessment. Subsequently, in December 2015, Telkomsel received
Decision Letters from the Tax Authorities which accepted part of Telkomsel&#8217;s
objection to the VAT assessment by reducing Telkomsel&#8217;s underpayment amounting&#160;
to Rp380 million (including penalty of Rp165 million). </font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Telkomsel plan</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> to file an appeal to
the Tax Court. As of the </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">date of approval and
authorization for the issuance</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> of consolidated financial statements, the
filing of the appeal is still in process.&#160; </font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">In August
2015, Telkomsel received a letter from the Tax Authorities which notified that
the Tax Authorities have confirmed that towers should be classified as building
and depreciated for 20 years. This letter is based on specific tax ruling on
fiscal depreciation of tower issued in July 2015. Subsequently, part of claim
for tax refund has been reclassified for principal portion to deferred tax
liabilities and penalty charged to profit or loss amounting to Rp125 billion
and Rp60 billion, respectively, and </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Rp66 billion remains as claim for tax refund.</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">In
accordance with the tax regulation, in September 2015, Telkomsel revised the
fiscal depreciation calculation of towers and filed the revised Corporate
Income Tax Returns for fiscal years 2012, 2013, and 2014. As a result of the
revised tax returns, Telkomsel reclassified the deferred tax liabilities to
current tax payable and paid the underpayment of Corporate Income Tax amounting
to Rp174 billion. Subsequently, on September 11, 2015, the Tax Authorities
issued Tax Collection Letters (&#8220;STPs&#8221;) amounting to Rp67 billion for Corporate
Income Tax late payment penalty for 2012 to 2014. On September 21, 2015,
Telkomsel filed a request for cancellation of such STPs to the Tax Authorities.
On November 26, 2015, the Tax Authorities accepted Telkomsel</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#8217;s&nbsp;</font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> request
and cancelled the STPs.</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">On July
3, 2015, in response to Telkomsel&#8217;s letter for claiming interest income related
to VAT and Withholding Tax for fiscal year 2006, the Tax Authorities
informed&nbsp;that Telkomsel's claim will not be processed since the Tax
Authorities filed a request for judicial review to the Supreme Court. As of the
</font><font color=black face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">date of approval and authorization for the issuance</font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">
of these consolidated financial statements, Telkomsel has not received a formal
letter from Tax Court regarding the judicial review and the claim for interest
income payment is still in process.</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. TAXATION
(continued)</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:1.1pt;margin-top:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">h</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; Tax</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> incentives</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:35.65pt;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">In
December 2015, the Company took advantage of the Economic Policy Package V in
the form of tax incentives for fixed assets revaluation as stipulated in the
Ministry of Finance Regulation (&#8220;PMK&#8221;) No.191/PMK.010.2015 j</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">uncto&nbsp;</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">
PMK No. 233/PMK.03/2015. In accordance with the PMK, the Company is allowed to
revalu</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">e&nbsp;</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;"> its fixed assets for tax purposes and will obtain </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">lower
final income tax </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">when the application of the revaluation is submitted to Directorate
General of Taxation (&#8220;DGT&#8221;) during the period between the effective date of PMK
</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(October 20, 2015) </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">and December 31, 2016. The final
income tax </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">is determined at a rate </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">ranging from 3%-6% on the
excess of the revalu</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ed&nbsp;</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;"> amount of fixed assets over its original net book value</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
depending on the timing of submission of the application to the DGT</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:35.65pt;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.65pt;"><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">On December 29, 2015, the
Company filed an application for fixed assets revaluation using self-assessed
revaluation amount and has paid the related final income tax amount</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ing&nbsp;</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">
to Rp750 billion. Based on the PMK, the self-assessed revaluation amount should
be evaluated by a public independent appraiser (</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8220;</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">KJPP</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">)
or valuation specialist, which is registered with the Government, before
December 31, 2016. Upon verification of the completeness and accuracy of the
application, </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">DGT may issue approval letter within 30 days after the receipt of
complete application. The Company has appointed a KJPP to perform fixed assets
revaluation and, as of the </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">date of approval and authorization for the
issuance</font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;"> of these&#160; consolidated financial statements, the revaluation is
still in process. The Company recorded and presented the final income tax paid
as Prepaid </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Other </font><font color=black face=arial,sans-serif lang=IN style="font-size:10.0pt;">Taxes.&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_251"></a><a name="_bclPageBorder251"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. TAXATION
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.5in;"><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Deferred tax assets
and liabilities</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
details of deferred tax assets and liabilities are as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">January 1, 2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(Charged) credited to
  profit or loss</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(Charged) credited to other
  comprehensive</font></b><b><font face=Arial,sans-serif style="font-size:7.0pt;"> incom</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">e&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">December </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">31</font></b><b><font face=Arial,sans-serif style="font-size:7.0pt;">,
  201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">The Company</font></b></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Deferred tax assets:</font></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Provision for impairment of
  receivables</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">446</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">24</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">470</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Net periodic pension and
  other post-employment benefit cost</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">s&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">341</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">7</font><font face=Arial,sans-serif style="font-size:7.0pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(85</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">330</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Accrued expenses and
  provision for inventory obsolescence</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">27</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">49</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">76</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Provision for employee
  benefits</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">143</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(71</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">72</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Deferred </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">installation&nbsp;</font><font face=Arial,sans-serif style="font-size:7.0pt;"> fee</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">70</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">72</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Finance leases</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">9</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">13</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">22</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Total deferred tax assets</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1,0</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">36&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">91</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(85</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1,042</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Deferred tax liabilities:</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Difference between
  accounting and tax property and equipment net carrying value</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(1</font><font face=Arial,sans-serif style="font-size:7.0pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">543&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">8</font><font face=Arial,sans-serif style="font-size:7.0pt;">5&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(1,45</font><font face=Arial,sans-serif style="font-size:7.0pt;">8&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Valuation of </font><font face=Arial,sans-serif style="font-size:7.0pt;">l</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">ong-term
  </font><font face=Arial,sans-serif style="font-size:7.0pt;">i</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">nvestment&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(70</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(69</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Land rights, intangible assets
  and others</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(11</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(14</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Total deferred tax liabilities</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(1,624</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">8</font><font face=Arial,sans-serif style="font-size:7.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(1,54</font><font face=Arial,sans-serif style="font-size:7.0pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Net deferred tax liabilities</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(588</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">174</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(85</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(499</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Telkomsel</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Deferred tax assets:</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Provision for employee
  benefits</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">20</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">27</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">40</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">274</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Provision for impairment of
  receivables</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">121</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">129</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Total deferred tax assets</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">3</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">28&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">35</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">40</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">403</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Deferred tax liabilities:</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Difference between
  accounting and tax property and equipment net carrying value</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2,268&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">224</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(2,044</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Finance leases</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">121&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(133</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(254</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">License amortization</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">62&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(61</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Total deferred tax liabilities</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2,451&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">92</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(2,359</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Net deferred tax
  liabilities of Telkomsel</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2,123&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">127</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">40</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(1,956</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Net deferred tax
  liabilities of the other subsidiaries</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(19</font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(51</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(248</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Total deferred tax
  liabilities</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(2,</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">908&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">250</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(45</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(2,703</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">)</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Total deferred tax
  assets of other subsidiaries</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">6</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">7&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">25</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">3</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">95</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:46.35pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_252"></a><a name="_bclPageBorder252"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader252"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. TAXATION
(continued)</font></b></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160; Deferred tax
assets and liabilities (continued)</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0pt;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=36% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">January 1, 2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(Charged) credited to profit
  or loss</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">(Charged) credited to other comprehensive income</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">Reclassification</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">December 31</font></b><b><font face=Arial,sans-serif style="font-size:7.0pt;">, </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">2015&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">The Company</font></b></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Deferred tax assets:</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=12% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Provision for impairment of
  receivables</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">470</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(41</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">429</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Net periodic pension and other
  post-employment benefit costs</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">330</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">335</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Accrued expenses and
  provision for inventory obsolescence</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">76</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">135</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">211</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Provision for employee
  benefits</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">72</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">25</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">97</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Finance leases</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">22</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">47</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">69</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Deferred installation fee</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">72</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(7</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">65</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Total deferred tax assets</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1,042</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">162</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1,206</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Deferred tax liabilities:</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Difference between
  accounting and tax property and equipment net carrying value</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,458</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(139</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,597</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Valuation of long-term
  investment</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(69</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">24</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(45</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Land rights, intangible assets
  and others</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(14</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(23</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Total deferred tax liabilities</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,541</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(124</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,665</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Net deferred tax liabilities</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(499</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">38</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(459</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Telkomsel</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Deferred tax assets:</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Provision for employee
  benefits</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">274</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">18</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">57</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">349</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Provision for impairment of
  receivables</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">129</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">138</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Total deferred tax assets</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">403</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">27</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">57</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">487</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Deferred tax liabilities:</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Difference between
  accounting </font><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">and tax property and</font><font face=Arial,sans-serif style="font-size:7.0pt;"> equipment net carrying value</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(2,044</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">350</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">299</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,395</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Finance leases</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(254</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(131</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(385</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">License amortization</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(61</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">9</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(52</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Total deferred tax liabilities</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(2,359</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">228</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">299</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,832</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Net deferred tax liabilities
  of Telkomsel</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,956</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">255</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">57</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">299</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(1,345</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Net deferred tax liabilities
  of the other subsidiaries</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(248</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(59</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">(306</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Total deferred tax
  liabilities</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(2,703</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">234</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">60</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">299</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(2,110</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=36% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Total deferred tax assets
  of other subsidiaries</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">95</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">107</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">(1</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">201</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.05pt;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&#160; &nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. TAXATION
(continued)</font></b></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160; Deferred tax
assets and liabilities</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.05pt;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:1.1pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">As of December 31,
201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, the aggregate
amounts of temporary differences associated with investments in subsidiaries,
for which deferred tax liabilities have not been recognized were Rp2</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">7,029 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">billion and Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">8</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">,</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">203 billion,
respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:1.1pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:1.1pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Realization of the
deferred tax assets is dependent upon the Group&#8217;s capability in generating
future profitable operations. Although realization is not assured, the Group
believes that it is probable that these deferred tax assets will be realized
through reduction of future taxable income when temporary differences reverse.
The amount of deferred tax assets is considered realizable; however, it can be
reduced if actual future taxable income is lower than estimates.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:1.1pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:37.8pt;text-align:justify;text-indent:-18.9pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">j.&#160;&#160;&#160;&#160; Administration </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">From
2008 to 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, the Company has
been consecutively entitled to income tax rate reduction of 5% for meeting the
requirements in accordance with the Government Regulation No. 81/2007 in
conjunction with the Ministry of Finance Regulation No. 238/PMK.03/2008. On the
basis of&#160; historical data, for the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">year ended December 31, 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, the Company
calculates the deferred tax using the tax rate of 20%.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
taxation laws of Indonesia require that the Company and its local subsidiaries
submit individual tax returns on the basis of self-assessment. Under prevailing
regulations, the DGT may assess or amend taxes within a certain period. For
fiscal years 2007 and earlier, the period is within ten years of the time the
tax became due, but not later than 2013, while for fiscal years 2008 and
onwards, the period is within five years of the time the tax became due.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Ministry of Finance of the Republic of Indonesia has issued Regulation
No.85/PMK.03/2012 dated June 6, 2012 concerning the appointment of State-Owned
Enterprises (&quot;SOEs&quot;) to withhold, deposit and report VAT and Sales
Tax on Luxury Goods (&quot;PPnBM&quot;) according to the procedures outlined in
the Regulation which is effective from July 1, 2012. The Ministry of Finance of
the Republic of Indonesia also has issued Regulation No.224/PMK.011/2012 dated
December 26, 2012 concerning the appointment of SOEs to withhold income tax
article 22 which is effective from February 23, 2013. The Company has withheld,
deposited, and reported the VAT and PPnBM or VAT and also income tax article 22
in accordance with the Regulation.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font color=#222222 face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Company received a letter from the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Large Tax
Office Four</font><font color=#222222 face=arial,sans-serif lang=IN style="font-size:10.0pt;"> </font><font color=#222222 face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">No. Pemb-00
427 / WPJ.19 /
KP.0405 / RIK.SIS
/ 2015 dated
June 29, 2015 </font><font color=#222222 face=arial,sans-serif lang=IN style="font-size:10.0pt;">regarding the notice of
field examination for the tax period </font><font color=#222222 face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">January
to December 2014. </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">T</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">he Company received a
certificate of tax audit exemption from the DGT for fiscal years 2010 and 2012 which is valid unless
the Company files for corporate income tax overpayment, in which case a tax
audit will be performed.</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> As of the </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">date of approval and
authorization for the issuance</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> of these consolidated financial statements, </font><font color=#222222 face=arial,sans-serif lang=IN style="font-size:10.0pt;">t</font><font color=#222222 face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">here is no tax audit performed for
fiscal years 2010,
2012, and 2013.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; PENSION AND OTHER
POST-EMPLOYMENT BENEFIT</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">S&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; The details of
pension and other post</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">employment
benefit liabilities are as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:22.5pt;width:97.3%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Notes</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Prepaid pension benefit cost</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">The Company</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;"> - funded</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">3</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">a.i.a&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,170</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,329</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">MDM</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">Infomedia</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">1,170</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">1,331</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Pension benefit and other post-employment benefit
  obligations</font></b></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Pension</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">The Company - unfunded</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">3</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">a.i.b&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,326</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,500</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Telkomsel</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">3</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">a.ii&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">644</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">803</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Total pension</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,970</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">3,303</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Post-employment health care benefit</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">3</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">b&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">441</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">118</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Other post-employment benefit</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">3</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">c&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">488</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">497</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Obligation under the Labor Law</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">3</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">d&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">216</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">253</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">4,115</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">4,171</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;text-decoration:none;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;text-align:justify;text-indent:-21.3pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The breakdown of the
net benefit expense recognized in the consolidated </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">tatements of profit
or loss and other comprehensive income is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:4.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:22.5pt;width:97.3%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=30% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Notes</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Pension</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">The Company</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;"> - funded</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">3</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">a.i.a&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">562</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">254</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">12</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">The Company</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;"> - unfunded</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">3</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">a.i.b&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">247</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">274</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">251</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Telkomsel</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">3</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">a.ii&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">178</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">115</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">179</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">MDM</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Infomedia</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Total pension</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">2</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">988</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">643</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">443</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Post-employment health care benefit</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">2</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">7</font><font face=Arial,sans-serif style="font-size:9.0pt;">,3</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">b&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">382</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">48&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">216</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Other post-employment benefit</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">2</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">7</font><font face=Arial,sans-serif style="font-size:9.0pt;">,3</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">c&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">41</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">48</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">47</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Obligation under the Labor Law</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">2</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">7</font><font face=Arial,sans-serif style="font-size:9.0pt;">,3</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2</font><font face=Arial,sans-serif style="font-size:9.0pt;">d&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">56</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">53</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">,426&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">99</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">759</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"> <font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;">The amounts
recognized in </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">OCI&nbsp;</font><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;"> are as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:1.0pt;text-align:justify;"><b><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;line-height:50%;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:22.5pt;width:97.3%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=30% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">Notes</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">Defined
  benefit plan actuarial (gain) losses</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Pension</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">The
  Company
  -</font><font face=arial,sans-serif style="font-size:9.0pt;"> funded</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">32a.i.a</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(2,</font><font face=arial,sans-serif style="font-size:9.0pt;">377&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(4</font><font face=arial,sans-serif style="font-size:9.0pt;">83&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">(</font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">1</font><font face=arial,sans-serif style="font-size:9.0pt;">86&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">The
  Company
  -</font><font face=arial,sans-serif style="font-size:9.0pt;"> unfunded</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">32a.i.b</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(</font><font face=arial,sans-serif style="font-size:9.0pt;">341&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">31</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">1</font><font face=arial,sans-serif style="font-size:9.0pt;">87&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Telkomsel</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">32a.ii</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(524</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">167</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">172</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Infomedia</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">MDM</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Post-employment
  health care benefit</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">32b</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(2,336</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(576</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(540</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Other
  post-employment benefit</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">32c</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(72</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">24</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">11</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Obligation
  under the Labor Law</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">32d</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(50</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">10</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">4</font><font face=arial,sans-serif style="font-size:9.0pt;">8&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Sub-total</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(5,700</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(827</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(3</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">09&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Deferred
  tax effect at the applicable tax rates</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">31h</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">701</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">42</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(5</font><font face=arial,sans-serif style="font-size:9.0pt;">9&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=30% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Defined
  benefit plan actuarial gain, net of tax</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(4,999</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(785</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(368</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 </tr>
</table></div>

<p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_255"></a><a name="_bclPageBorder255"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader255"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; PENSION AND OTHER
POST-EMPLOYMENT BENEFIT</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">S&nbsp;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-14.3pt;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">a.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;
</font></b><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Pension benefit
cost</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; i. The
Company</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.35pt;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Funded pension plan</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.35pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Company sponsors a defined benefit pension plan for employees with permanent
status prior to July 1, 2002. The plan is governed by the pension laws in
Indonesia and managed by Telkom Pension Fund (&#8220;Dana Pensiun Telkom&#8221; or
&#8220;Dapen&#8221;). The pension benefits are paid based on the participating employees&#8217;
latest basic salary at retirement and the number of years of their service. The
participating employees contribute 18% (before March 2003: 8.4%) of their basic
salaries to the pension fund. The Company&#8217;s contributions to the pension fund
for the years ended December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> amounted to Rp18</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">,&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">nil and Rpnil</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
following table presents the changes in projected pension benefit obligations,
changes in pension benefit plan assets, funded status of the pension plan and
net amount recognized in the consolidated statements of financial position as
of December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, on the defined
benefit pension plan: </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:50%;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:63.0pt;width:91.78%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=57% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Changes in projected pension benefit </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">o</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">bligations&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Projected pension benefit obligations at beginning of
  year</font></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">14,883</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">17,402</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Charged to profit or loss:</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Service costs</font></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">188</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">218</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Past service cost</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">204</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(55</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Interest costs</font></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,348</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,445</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Pension plan participants&#8217; contributions</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">45</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">45</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Actuarial (gain) losses recognized in OCI</font></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,471</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(1,666</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Expected pension benefits paid</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(737</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(808</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Settlement</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(76</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Projected pension
  benefit obligations at end of year</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">17,402</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">16,505</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Changes in pension benefit plan assets</font></b></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Fair value of pension plan assets at beginning of year</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">16,803</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">18,929</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Interest income</font></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,534</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,576</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Return on plan assets (excluding amount included in net
  interest expense)</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,340</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(1,837</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Pension plan participants&#8217; contributions</font></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">45</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">45</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Expected pension benefits paid</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(737</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(808</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Administrative expenses paid</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(56</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(71</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Fair value of pension plan assets at end of year</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">18,929</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">17,834</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Funded status</font></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,527</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,329</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Unrecoverable surplus (effect of asset
  ceiling)</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(357</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Prepaid pension benefit </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">c</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">ost&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,170</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,329</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;line-height:50%;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; PENSION AND OTHER
POST-EMPLOYMENT BENEFIT</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">S&nbsp;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:3.7pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&#160; Pension
benefit cost (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; i. The
Company (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:62.95pt;text-align:justify;text-indent:-17.85pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Funded pension plan
(continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:62.95pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of
December 31, 2014 and 2015, plan assets consisted of:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:63.0pt;width:91.48%;">
 <tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Quoted in active market</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Unquoted</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Quoted in active market</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Unquoted</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Cash and cash equivalent</font><font face=Arial,sans-serif style="font-size:8.0pt;">s&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">2,476</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1,335</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Equity instruments</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Finance</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1,137</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1,153</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Consumer goods</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">796</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">953</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Infrastructure, utilities and transportation</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">724</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">637</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Construction, property and real estate</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">508</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">573</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Basic industry and chemical</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">409</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">163</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Trading, service and investment</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">269</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">183</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Mining</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">142</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">45</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Agriculture</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">62</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">29</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Miscellaneous industr</font><font face=Arial,sans-serif style="font-size:8.0pt;">ies&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">325</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">240</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Equity-based mutual fund</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1,172</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1,120</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Fixed income instruments</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Corporate bonds</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">3,351</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">3,587</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Government bonds</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">6,526</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">451</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">7,257</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Non-public equity - d</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">irect placement</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">153</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">163</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Property</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">153</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">156</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">275</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">240</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=29% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">14,546</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">4,383</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">13,688</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">4,146</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:27.2pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.35pt;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:50%;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Pension
plan assets also include Series B shares issued by the Company with fair values
totalling Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">348&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion and Rp</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">445&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion,
representing </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1.84</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">% and </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2.49</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">% of total plan
assets as of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 31, 201</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 2015,
respectively, and bonds issued by the Company with fair value totalling Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">151&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion and Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">464&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion representing
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">0.80</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">% and </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2.60</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">% of total assets as
of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December
31</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 2015,
respectively</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
expected return is determined based on market expectation for returns over the
entire life of the obligation by considering the portfolio mix of the plan
assets. The actual return on plan assets was Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2,817&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion and </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">332 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">billion) </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">for the year</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> ended
December 31, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2014
and 2015, respectively. Based on the Company&#8217;s policy issued on January 14,
2014 regarding Dapen&#8217;s Funding Policy, the Company will not contribute to Dapen
when Dapen&#8217;s Funding Sufficiency Ratio (FSR) is above 105%. Therefore, the
Company </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">does
not expect to contribute to the defined benefit pension plan in 201</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">6.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Based on
the Company policy issued on July 1, 2014 regarding Pension Regulation by &#8220;</font><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Dana
Pens</font></i><i><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">iu</font></i><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">n&nbsp;</font></i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Telkom</font></i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;,
there is an increase in monthly benefits given to the pensioners, widow/widower
o</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">r&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> the children of
participants who stopped working before the end of June, 2002. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">During
2015, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">the
Company </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">made
settlements to pensioners, widow/widower or the children of participant who has
monthly pension benefits under Rp1,500,000 </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">and choose </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">to withdraw their
pension benefits in lump sum</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_257"></a><a name="_bclPageBorder257"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; PENSION AND OTHER
POST-EMPLOYMENT BENEFIT</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">S&nbsp;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:3.7pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&#160; Pension
benefit cost (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; i. The
Company (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Funded pension plan
(continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:62.95pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The movements
of the prepaid pension benefit cost during the years ended December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> are as follows: </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:63.0pt;width:91.78%;">
 <tr>
  <td valign=bottom width=58% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=58% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Prepaid (provision for)
  pension benefit cost at beginning of year</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">949</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,170</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=58% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Net periodic pension
  benefit cost</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:9.0pt;">(2</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">62&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(27</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=58% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Actuarial gain
  (losses)</font><font face=Arial,sans-serif style="font-size:9.0pt;"> recognized via the OCI</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(1,471</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,666</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=58% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Asset ceiling recognized
  via the OCI</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">614</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">357</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=58% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Return on plan assets </font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(excluding amount included
  in net interest expense)</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,340</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(1,837</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=58% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Prepaid pension benefit
  cost at end of year</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,170</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,329</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:37.8pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:37.8pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
components of net periodic pension benefit cost are as follows: </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:37.8pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:63.0pt;width:91.78%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.5in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.5in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Service
  costs</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">450</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">188</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">218</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.5in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Past service cost</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">204</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(55</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.5in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Plan administration cost</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">75</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">56</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">71</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.5in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Net
  interest cost</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">5</font><font face=Arial,sans-serif style="font-size:9.0pt;">8&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(186</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(131</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.5in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Settlement</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(76</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.5in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Net
  periodic pension benefit cost</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">58</font><font face=Arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">262</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">27</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Amount charged to subsidiaries under contractual
  agreements</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(21</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(15</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.5in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Net
  periodic pension benefit cost</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">56</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">2&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">254</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">12</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:37.8pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:37.8pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Amounts recognized in </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">OCI&nbsp;</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">
are as follows:</font></p>

<p style="margin-bottom:0in;margin-left:37.8pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:9.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:63.0pt;width:91.78%;">
 <tr>
  <td valign=bottom width=47% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=47% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Actuarial
  (gain) losses recognized during the year due to:</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=47% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Experience
  adjustments</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(</font><font face=arial,sans-serif style="font-size:9.0pt;">20&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">566</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=EN-AU style="font-size:9.0pt;">(</font><font face=arial,sans-serif style="font-size:9.0pt;">991&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-AU style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=47% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Demographic
  assumptions</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">1</font><font face=arial,sans-serif style="font-size:9.0pt;">37&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=47% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Financial
  assumptions</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(5,3</font><font face=arial,sans-serif style="font-size:9.0pt;">67&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">905</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=EN-AU style="font-size:9.0pt;">(</font><font face=arial,sans-serif style="font-size:9.0pt;">812&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-AU style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=47% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Asset
  ceiling limitation</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">971</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(614</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(357</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=47% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Return
  on plan assets </font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(excluding
  amount included in net interest expense)</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">2,039</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(1,340</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">1,837</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=47% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Net</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">2,377&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(483</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(186</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_258"></a><a name="_bclPageBorder258"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader258"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; PENSION AND OTHER
POST-EMPLOYMENT BENEFIT</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">S&nbsp;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:3.3pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&#160; Pension
benefit cost (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-align:justify;text-indent:-28.35pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i. The Company
(continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-align:justify;text-indent:-28.35pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Funded pension plan
(continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-align:justify;text-indent:-28.35pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
actuarial valuation for the defined benefit pension plan was performed based on
the measurement date as of December 31, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2013, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, with reports dated
February 28, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, March 13, 2015</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and Februar</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">y&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 25, 2016</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively, by PT
Towers Watson Purbajaga (&#8220;TWP&#8221;), an independent actuary in association with </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Wil</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">l</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">is </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Towers Watson (&#8220;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">W</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">TW&#8221;) (formerly </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Towers Watson</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">). The principal
actuarial assumptions used by the independent actuary for the years ended
December&nbsp;31, 2013, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> are as follows: </font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:9.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:63.0pt;width:91.78%;">
 <tr>
  <td valign=bottom width=47% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=47% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">Discount rate</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">9</font><font face=arial,sans-serif style="font-size:9.0pt;">.</font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">00</font><font face=arial,sans-serif style="font-size:9.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">8.50%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">9.00%</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=47% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">Rate of compensation increases</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">8</font><font face=arial,sans-serif style="font-size:9.0pt;">.00%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">8.00%</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">8.00%</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=47% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">Indonesia</font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">n&nbsp;</font><font face=arial,sans-serif style="font-size:9.0pt;"> mortality table</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">2011</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">2011</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">2011</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-align:justify;text-indent:-28.35pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Unfunded pension plan</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Company sponsors unfunded defined benefit pension plans and a defined
contribution pension plan for its employees.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:47.6pt;margin-right:0pt;margin-top:0in;text-align:justify;text-indent:.7pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
defined contribution pension plan is provided to employees hired with permanent status on
or after July 1, 2002. The plan is managed by Financial Institutions Pension
Fund (&#8220;</font><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Dana Pensiun Lembaga Keuangan</font></i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; or &#8220;DPLK&#8221;). The Company&#8217;s
contribution to DPLK is determined based on a certain percentage of the
participants&#8217; salaries and amounted to Rp6 billion </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">and Rp7 billion </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">for the years ended
December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=Arial,sans-serif lang=DE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Since
2007, the Company has provided pension benefit based on uniformulation for both
participants prior to and from April 20, 1992 effective for employees retiring
beginning February 1, 2009. In 2010, the Company replaced the uniformulation
with </font><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Manfaat Pensiun Sekaligus</font></i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (&#8220;MPS&#8221;). MPS is given to those employees reaching
retirement age, upon death or upon becoming disabled starting from February 1,
2009. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Company also provides benefits to employees </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">during a
pre-retirement period in which they are inactive for 6 months prior to their
normal retirement age of 56 years</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, known as pre-retirement benefits (&#8220;</font><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Masa
Persiapan Pensiun</font></i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; or &#8220;MPP&#8221;). </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">During the pre-retirement period, the
employees still receive benefits provided to active employees, which include,
but are not limited to</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> regular
salary, health care, annual leave, bonus and other benefits.</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> Since 2012, the
Company has issued a new requirement for MPP effective for employees retiring
beginning April 1, 2012, whereby the employee is required to file a request for
MPP and if the employee does not file the request, he or she is required to
work until the retirement date. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:0pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_259"></a><a name="_bclPageBorder259"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; PENSION AND OTHER
POST-EMPLOYMENT BENEFIT</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">S&nbsp;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;text-indent:-17.85pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:3.3pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.
Pension benefit cost (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-align:justify;text-indent:-28.35pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i.
The Company (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Unfunded pension plan
(continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
following table presents the changes of the unfunded projected pension benefit
obligations of MPS and MPP for the years ended December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">: &nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:63.0pt;width:91.78%;">
 <tr>
  <td valign=bottom width=57% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Changes in projected
  pension benefit obligations</font></b></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Unfunded projected pension
  benefit obligations at beginning of year</font></p>
  </td>
 <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,201</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,326</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Charged to profit or loss:</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Service costs</font></p>
  </td>
 <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">8</font><font face=Arial,sans-serif style="font-size:9.0pt;">0&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">60</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Interest costs</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1</font><font face=Arial,sans-serif style="font-size:9.0pt;">94&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">191</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Actuarial </font><font face=Arial,sans-serif style="font-size:9.0pt;">losses recognized in OCI</font></p>
  </td>
 <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">31</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">187</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Benefits paid by employer</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(180</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(264</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Unfunded projected
  pension benefit obligations at end of year</font></b></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,326</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2,500</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:37.8pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:37.8pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
components of total periodic pension benefit cost are as follows: </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:63.0pt;width:91.78%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Service costs</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">97</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">80</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">60</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Net interest cost</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">150</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">194</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">191</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Total periodic pension benefit cost</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">2</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">47&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">274</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">251</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:53.85pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-17.85pt;"><sup><b><font face=Arial,sans-serif lang=X-NONE style="font-size:16.0pt;line-height:50%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b></sup></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amounts recognized in OCI are
as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:63.0pt;width:91.78%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Actuarial (gain) losses recognized during the year due
  to:</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Experience adjustments</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">(12</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">(</font><font face=Arial,sans-serif style="font-size:9.0pt;">30&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Demographic assumptions</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">50</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Financial assumptions</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(</font><font face=Arial,sans-serif style="font-size:9.0pt;">344&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">43</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">167</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Net</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">(341</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">31</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">1</font></b><b><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">87&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:53.85pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-17.85pt;"><sup><b><font face=Arial,sans-serif lang=X-NONE style="font-size:16.0pt;line-height:50%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b></sup></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
actuarial valuation for the defined benefit pension plan was performed, based
on the measurement date as of December 31, 2013, 2014 and 2015, with reports
dated February 28, 2014, March 13, 2015, and February 25, 2016, respectively,
by PT Towers Watson Purbajaga (&#8220;TWP&#8221;), an independent actuary in association
with Willis Tower Watson (&#8220;WTW&#8221;) (formerly Tower Watson).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_260"></a><a name="_bclPageBorder260"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader260"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; PENSION AND OTHER
POST-EMPLOYMENT BENEFIT</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">S&nbsp;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;text-indent:-17.85pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:3.3pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&#160; Pension
benefit cost (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-align:justify;text-indent:-28.35pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i.
The Company (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Unfunded pension plan
(continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
principal actuarial assumptions used by the independent actuary for the years
ended December 31, 2013, 2014 and 2015 are as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;margin-right:0pt;margin-top:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&#160;&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:63.0pt;width:91.5%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Discount
  rate</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">9</font><font face=arial,sans-serif style="font-size:9.0pt;">.</font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">00</font><font face=arial,sans-serif style="font-size:9.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">8.50%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">9.00%</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Rate of
  compensation increases</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">8</font><font face=arial,sans-serif style="font-size:9.0pt;">.00%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">8.00%</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">varies</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Indonesia</font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">n&nbsp;</font><font face=arial,sans-serif style="font-size:9.0pt;"> mortality table</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">2011</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">2011</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">2011</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-align:justify;text-indent:-28.35pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ii.
Telkomsel</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:45.9pt;margin-right:.05pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Telkomsel
provides a defined benefit pension plan to its employees. Under this plan,
employees are entitled to pension benefits based on their latest basic salary
or take-home pay and the number of years of their service. PT Asuransi
Jiwasraya (&#8220;Jiwasraya&#8221;), a&nbsp;state-owned life insurance company, manages the
plan under an annuity insurance contract. Until 2004, the employees contributed
5% of their monthly salaries to the plan and Telkomsel contributed any
remaining amount required to fund the plan. Starting 2005, the entire
contributions have been fully made by Telkomsel.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:45.9pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:45.9pt;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Telkomsel's
contributions to Jiwasraya amounted to Rp98 billion and </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Rp</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">192
billion
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">for the
years ended December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:45.9pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:45.9pt;margin-right:.05pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
following table presents the changes in projected pension benefit obligation,
changes in pension benefit plan assets, funded status of the pension plan and
net amount recognized in the consolidated statement of financial position for
the years ended December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, on Telkomsel&#8217;s
defined benefit pension plan:</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:7.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:45.0pt;width:93.92%;">
 <tr style="height:1.0pt;">
  <td valign=top width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=19% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=19% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Changes in projected
  pension benefit obligation</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Projected pension benefit
  obligation</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;"> at beginning of year</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">899</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,281</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Charged to profit or loss:</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Service costs</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">74</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">101</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Net i</font><font face=Arial,sans-serif style="font-size:9.0pt;">nterest cost</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">81</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">106</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Actuarial (gain) losses
  recognized in OCI</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:9.0pt;">234</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(64</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Expected benefits paid</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:9.0pt;">(7</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Projected pension benefit
  obligation at end of year</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:9.0pt;">1</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">,</font><font face=Arial,sans-serif style="font-size:9.0pt;">2</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">81&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">1,415</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Changes in pension
  benefit plan assets</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Fair value of plan assets
  at beginning of year</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">439</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">637</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Interest income in profit
  or loss</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">40</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">28</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Return on plan assets
  (excluding amount included</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;"> in
  net interest expense)</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">67</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(236</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Employer&#8217;s contributions</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">98</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">192</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Expected benefits paid</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(7</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(9</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Fair value of plan assets
  at end of year</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">637</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">612</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Funded status</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(644</font></p>
  </td>
 <td valign=bottom width=2% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(803</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=60% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Provision for pension
  benefit </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">c</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">ost&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(644</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(803</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:50%;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_261"></a><a name="_bclPageBorder261"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; PENSION AND OTHER
POST-EMPLOYMENT BENEFIT</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">S&nbsp;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:37.1pt;text-align:justify;text-indent:.7pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; a.&#160; Pension
benefit cost (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font></i></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ii.&#160;&#160;&#160;&#160; Telkomsel</font><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> </font></i><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(continued)&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Movements of the provision </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">for </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">pension
benefit cost during the years ended December 31, 2014 and 2015</font><font face=Arial,sans-serif lang=DE style="font-size:10.0pt;">: &nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:58.5pt;width:92.1%;">
 <tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Provision for pension
  benefit cost at beginning of year</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(460</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(644</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">P</font><font face=Arial,sans-serif style="font-size:9.0pt;">eriodic pension benefit cost</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(115</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(179</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Actuarial gain (losses)
  recognized via the OCI</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(234</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">64</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Return on plan assets
  (excluding amount included in net interest expense)</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">67</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(236</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Employer contributions</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">98</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">192</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Provision for pension
  benefit cost at end of year</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">(</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">644&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(803</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
components of the periodic pension benefit cost are as follows: </font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:1.0pt;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;line-height:50%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.72%;">
 <tr>
  <td valign=bottom width=47% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=47% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Service
  costs</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">130</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">74</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">101</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=47% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Net
  interest cost</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">48</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">41</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">78</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=47% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">178</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">115</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=EN-AU style="font-size:9.0pt;">179</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amount</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> recognized in </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">OCI&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> are as follows: </font></p>

<p style="margin-bottom:0in;margin-left:37.8pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></sup></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.72%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Actuarial </font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(gain) </font><font face=Arial,sans-serif style="font-size:9.0pt;">losses recognized during
  the year due to:</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Experience adjustments</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">43</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">55</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">(</font><font face=Arial,sans-serif style="font-size:9.0pt;">20&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Financial assumptions</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(</font><font face=Arial,sans-serif style="font-size:9.0pt;">832&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">179</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">(44</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Return on plan assets </font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(excluding amount </font><font face=Arial,sans-serif style="font-size:9.0pt;">included in net interest expense)</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">265</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">(67</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">236</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=47% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Net</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(524</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">1</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">67&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">172</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
periodic pension cost for the pension plan was calculated, based on the
measurement date as of December 31, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2013, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, with reports dated </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">February 20</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">February 5,
2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">February
12,</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
2016, respectively, by TWP, an independent actuary in association with TW. The
principal actuarial assumptions used by the independent actuary based on the
measurement date as of December 31</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, 2013, 2014 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, are as follows:</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.72%;">
 <tr>
  <td valign=bottom width=47% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=47% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Discount
  rate</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">9</font><font face=arial,sans-serif style="font-size:9.0pt;">.00%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">8.25%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">9.25%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=47% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Rate of
  compensation increases</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">6.50%</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">6.50%</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">8.00%</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=47% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Indonesian
  mortality table</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">2011</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">2011</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">2011</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_262"></a><a name="_bclPageBorder262"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; PENSION AND OTHER
POST-EMPLOYMENT BENEFIT</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">S&nbsp;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:37.1pt;text-indent:.7pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"> <b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">b</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">.&#160; Post-</font></b><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">employment&nbsp;</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> health care benefit</font></b><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> provision</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:0pt;margin-top:0in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Company provides post-employment health care benefits to all of its employees
hired before November 1, 1995 who have worked for the Company for 20 years or
more when they retire, and to their eligible dependents. The requirement to
work for 20 years does not apply to employees who retired prior to June 3,
1995. The employees hired by the Company starting from November 1, 1995 are no longer entitled to
this plan. The plan is managed by Yakes.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The defined
contribution post-employment health care benefit plan is provided to employees
hired with permanent status on or after November 1, 1995 or employees with
terms of service less than 20 years at the time of retirement. The Company&#8217;s
contribution to the plan amounted to </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Rp</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">226 billion and Rpnil for the years ended December 31,
201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The following table
presents the changes in projected post-employment health care benefit provision, change in
post-employment health care benefits plan assets, funded status of the
post-employment health care benefit plan and net amount recognized in the
Company&#8217;s consolidated statement of financial position as of December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-AU style="font-size:10.0pt;">:&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.14%;">
 <tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">Changes
  in projected post-employment
  health care benefit provision</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Projected
  post-employment health care benefit obligation</font><font face=arial,sans-serif style="font-size:9.0pt;"> at beginning of year</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">10,653</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">11,505</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Charged
  to profit or loss:</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Service
  costs</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">45</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">49</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Interest
  costs</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">942</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">961</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Actuarial
  (gain) losses</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">238</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(1,187</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Expected
  post-employment health care benefits paid</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(373</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(386</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">Projected
  post-employment health care benefit provision at end of year</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">11,505</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">10,942</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">Changes
  in post-employment
  health care plan </font></b><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">a</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">ssets&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Fair
  value of plan assets at beginning of year</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">9,660</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">11,064</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Interest
  income</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">863</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">924</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Return
  on plan assets (excluding amount included in net interest</font><font face=arial,sans-serif style="font-size:9.0pt;"> expense)</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">814</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(647</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Employer&#8217;s
  contributions</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">226</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Expected
  post-employment health care benefits paid</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(373</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(386</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Administrative
  expenses paid</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(126</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(131</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Fair
  value of plan assets at end of year</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">11,064</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">10,824</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Funded
  status</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(441</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(118</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">P</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">rovision for
  post-employment health care benefit</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(441</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(118</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 </tr>
</table></div>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_263"></a><a name="_bclPageBorder263"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#160;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; PENSION AND OTHER
POST-EMPLOYMENT BENEFIT</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">S&nbsp;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; b.&#160;&#160; </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Post-</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">employment&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> health care
benefit</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
provision</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As
of December 31, 2014 and 2015, plan assets consisted of:</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> &nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:27.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif lang=X-NONE style="font-size:11.0pt;">&nbsp;</font></sup></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:40.5pt;width:94.54%;">
 <tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=33% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Quoted in active market</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Unquoted</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Quoted in active market</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Unquoted</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Cash and cash equivalent</font><font face=Arial,sans-serif style="font-size:8.0pt;">s&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">794</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">811</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Equity instruments</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">:&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Manufacturing and consumer</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">516</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">571</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Finance industry</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">369</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">566</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Construction</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">271</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">301</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Infrastructure and telecommunication</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">202</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">211</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Wholesale</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">145</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">70</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Mining</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">69</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">12</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Services</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">65</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">33</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Agriculture</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">23</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">23</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Biotech and Pharma Industry</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">38</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Equity-based mutual funds</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1,767</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1,129</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Fixed income mutual funds</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">6,589</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">6,837</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Unlisted shares:</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Private placement</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">177</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">213</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">30</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">38</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">10,857</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">207</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">10,573</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">251</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:27.2pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.35pt;"><sup><font face=Arial,sans-serif lang=X-NONE style="font-size:13.0pt;line-height:50%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></sup></p>

<p style="margin-bottom:.0001pt;margin-left:40.5pt;margin-right:0pt;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font></b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Yakes plan assets also
include Series B shares issued by the Company with fair value totalling Rp</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">140&nbsp;</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> billion and Rp</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">174&nbsp;</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> billion representing 1.2</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">%&nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> and 1.61%</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> of total
assets as of December 31, 201</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">
and 201</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5,&nbsp;</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> respectively.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
expected return is determined based on market expectation for returns over the
entire life of the obligation by considering the portfolio mix of the plan
assets. The actual return on plan assets was </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Rp1,550 billion and Rp147
billion </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">for
the years ended December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively. The
Company does not expect to contribute to its post-employment health care plan
during 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
movements of the provision for projected post-employment health care benefit
for the years ended December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> are as follows:</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:40.5pt;width:94.7%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=57% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Changes in projected post-employment health care
  benefit provision</font></b></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">Defined benefit liability at
  beginning of year</font></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">993</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">441</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">Net periodic pension cost</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">250</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">217</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">Employer contributions</font></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(226</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=21% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Actuarial </font><font color=black face=Arial,sans-serif style="font-size:9.0pt;">(</font><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">g</font><font color=black face=Arial,sans-serif style="font-size:9.0pt;">ain) </font><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">l</font><font color=black face=Arial,sans-serif style="font-size:9.0pt;">oss</font><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">es&nbsp;</font><font color=black face=Arial,sans-serif style="font-size:9.0pt;"> recognized via the OCI</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">238</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(1,187</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Return on plan assets </font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(excluding amount</font><font face=Arial,sans-serif style="font-size:9.0pt;">
  included in </font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">net interest expense)</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(814</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">647</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=57% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Provision for post-employment health care benefit</font></b></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">441</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font color=black face=Arial,sans-serif lang=IN style="font-size:9.0pt;">118</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:35.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-17.85pt;"><sup><font face=Arial,sans-serif lang=X-NONE style="font-size:13.0pt;line-height:50%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></sup><sup><font face=Arial,sans-serif lang=IN style="font-size:13.0pt;line-height:50%;">&#160;&#160;&#160; </font></sup><font face=Arial,sans-serif lang=X-NONE style="font-size:13.0pt;line-height:50%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_264"></a><a name="_bclPageBorder264"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><a href="#TOC"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; PENSION AND OTHER
POST-EMPLOYMENT BENEFIT</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">S&nbsp;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;text-indent:.05pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:3.7pt;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">b</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">.&#160; Post-</font></b><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">employment&nbsp;</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> health care benefit</font></b><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> provision</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">s (continued)</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;"> &nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
components of net periodic post-employment health care benefit cost for the
years ended December 31, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2013, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> are as follows: </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=44% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Service costs</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">70</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">45</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">49</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">Plan administration cost</font></p>
  </td>
 <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">119</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">126</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">131</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Net interest cost</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">19</font><font face=Arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">79</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">37</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Net periodic post-employment health care benefit cost</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">38</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">2&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">250</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">217</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Amounts charged to subsidiaries under contractual </font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">a</font><font face=Arial,sans-serif style="font-size:9.0pt;">greements&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">2&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(2</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Net periodic post-employment health care benefit cost</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">38</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">0&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">248</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">216</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:35.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-17.85pt;"><sup><font face=Arial,sans-serif lang=X-NONE style="font-size:13.0pt;line-height:50%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></sup></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;text-align:justify;text-indent:14.75pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amounts
recognized in </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">OCI&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> are as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;text-align:justify;text-indent:14.75pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=44% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=44% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Actuarial (gain) losses recognized during the year due
  to:</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=44% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Experience adjustments</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">(56</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">97</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">(5</font><font face=Arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=44% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Demographic assumptions</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">92</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=44% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Financial assumptions</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(</font><font face=Arial,sans-serif style="font-size:9.0pt;">3,043&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">141</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">(1,226</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=44% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Return on plan assets </font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(excluding amount</font><font face=Arial,sans-serif style="font-size:9.0pt;">
  i</font><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">ncluded in net interest expense)</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">76</font><font face=Arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(814</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">647</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=44% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Net</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(2,33</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">6&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(576</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(540</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:35.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-17.85pt;"><sup><font face=Arial,sans-serif lang=X-NONE style="font-size:13.0pt;line-height:50%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></sup></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
actuarial valuation for the post-employment health care benefits was performed
based on the measurement date as of December 31, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2013, 2014 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, with reports dated February 28</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, 2014, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">March 13</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, 2015 and
Februar</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">y&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 25, 2016</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively, by
TWP, an independent actuary in association with </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">W</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">TW. The principal
actuarial assumptions used by the independent actuary as of December 31, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2013, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4 and 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> are as follows: </font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=44% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=44% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Discount
  rate</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">9.00</font><font face=arial,sans-serif style="font-size:9.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">8.50%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">9.25%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=44% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Health
  care costs trend rate assumed for
  next year</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">7.00</font><font face=arial,sans-serif style="font-size:9.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">7.00%</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">7.00%</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=44% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Ultimate
  health care costs trend rate</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">7.00%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">7.00%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">7.00%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=44% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Year
  that the rate reaches the ultimate trend rate</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">2015</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">2016</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=44% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Indonesian
  mortality table</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">2011</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">2011</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">2011</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_265"></a><a name="_bclPageBorder265"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160;&#160; PENSION AND OTHER
POST-EMPLOYMENT BENEFIT</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">S&nbsp;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;text-indent:.05pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;text-indent:.05pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">c.&#160; Other
post-employment benefits provisions</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Company provides other post-employment benefits in the form of cash paid to
employees on their retirement or termination. These benefits consist of final
housing allowance (&#8220;</font><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Biaya Fasilitas Perumahan Terakhir</font></i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; or BFPT) and
home passage leave (&#8220;</font><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Biaya Perjalanan Pensiun dan Purnabhakti</font></i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; or </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#8220;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">BPP</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#8221;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">). &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
changes in the projected other post-employment benefit obligations for the
years ended December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> are as follows: </font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.3%;">
 <tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">Changes
  in projected other post-employment benefits provision</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Unfunded
  projected benefit obligations at beginning of year</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">450</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">488</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Charged
  to profit or loss</font><font face=arial,sans-serif style="font-size:9.0pt;">:&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Service
  costs</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">9</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">8</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Net
  i</font><font face=arial,sans-serif style="font-size:9.0pt;">nterest
  cost</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">39</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">39</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Actuarial
  losses recognized </font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">in&nbsp;</font><font face=arial,sans-serif style="font-size:9.0pt;">
  OCI</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">24</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">11</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Benefits
  paid by employer</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(34</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(49</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">Provision
  for other post-employment benefits</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">488</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">497</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
components of the p</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">rojected&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> other post-employment benefit cost for the years ended
December 31, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2013,
2014 and 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
are as follows: </font></p>

<p style="margin-bottom:0in;margin-left:37.8pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.3%;">
 <tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Service
  costs</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">11</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Net
  interest cost</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">30</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">39</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">39</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">41</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">48</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">47</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amounts
recognized in OCI are as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:35.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-17.85pt;"><sup><font face=Arial,sans-serif lang=X-NONE style="font-size:13.0pt;line-height:50%;">&nbsp;</font></sup></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.3%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=48% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=48% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Actuarial (gain) losses recognized during the year due to:</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=48% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Experience adjustments</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">(7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">12</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:9.0pt;">20</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=48% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Demographic assumptions</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">(0</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=48% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:9.0pt;">Financial assumptions</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(</font><font face=Arial,sans-serif style="font-size:9.0pt;">65&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">12</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">(9</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=48% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Net</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(</font></b><b><font face=Arial,sans-serif style="font-size:9.0pt;">72&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">24</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">11</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:35.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-17.85pt;"><sup><font face=Arial,sans-serif lang=X-NONE style="font-size:13.0pt;line-height:50%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></sup></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">The
actuarial valuation for the other post-employment benefits was calculated based
on measurement date as of December 31, 2013, 2014 and 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, with reports dated February 28</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, 2014, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">March 13</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, 2015 and
Februar</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">y&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 25, 2016</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> respectively,</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> by TWP, an
independent actua</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">r</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">y in
association with WTW. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
principal actuarial assumptions used by the independent actuary based on the
measurement date as of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December 31, 2013, 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, are as follows:</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.3%;">
 <tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">Discount rate</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">9</font><font face=arial,sans-serif style="font-size:9.0pt;">.00%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">8.</font><font face=arial,sans-serif style="font-size:9.0pt;">50</font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">9.00%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=48% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">Indonesian mortality table</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">2011</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">2011</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">2011</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; PENSION AND OTHER
POST-EMPLOYMENT BENEFIT</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">S&nbsp;</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">d.&#160;&#160; Obligation under the Labor Law </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Under Law
No. 13 Year 2003, the Group is required to provide minimum pension benefits, if
not covered yet by the sponsored pension plans, to its employees upon
retirement age. The total related obligation recognized as of December 31, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2014 and </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2015 amounted to Rp2</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">16&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Rp25</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion,
respectively. The related employee benefits cost charged to expense amounted to
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Rp15
billion, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Rp56
billion and Rp5</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion for the
years ended December 31, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2013, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively. The
actuarial (gain) losses recognized in OCI amounted to</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (Rp50 billion),</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">10&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">and </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">48&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion for the
years ended December 31, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2013, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2014&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively.</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:18.45pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Maturity Profile of Defined Benefit
Obligation (&#8220;DBO&#8221;)</font></b></p>

<p style="margin-bottom:0in;margin-left:14.2pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:18.45pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.2pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Weighted average duration of DBO for the
Company and Telkomsel are 10.43 years and 11.86 years, respectively.
The timing of benefits payments for 201</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> is as follows:</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.84%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=9 valign=bottom width=65% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Expected Benefits
  Payment</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">The Company</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Time
  Period</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Funded</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Unfunded</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Telkomsel</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Post-employment
  health care</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Other
  post-employment benefits</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Within
  next 10 years</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">14,641</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">3,164</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1,166</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">5,249</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">613</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Within
  10-20 years</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">19,912</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">235</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">5,183</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">6,738</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">148</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Within
  20-30 years</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">17,377</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">5,275</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">6,609</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">47</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Within
  30-40 years</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">11,453</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">730</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">4,939</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Within
  40-50 years</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">26,115</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">2,228</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Within
  50-60 years</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">301</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">211</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Within
  60-70 years</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">13</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Within
  70-80 years</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Sensitivity Analysis</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:18.2pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:18.2pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">% change in discount
rate and rate of salary would have effect on DBO, as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:18.2pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.84%;">
 <tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td colspan=3 valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Discount Rate</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td colspan=3 valign=bottom width=33% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Rate of Compensation</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Sensitivity</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">1% Increase</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">1% Decrease</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">1% Increase</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">1% Decrease</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td colspan=3 valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Increase (decrease)
  in amounts</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td colspan=3 valign=bottom width=33% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Increase (decrease)
  in amounts</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Funded</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">(1</font><font face=arial,sans-serif style="font-size:8.0pt;">,</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">315&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">1,542</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">375</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">(356</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Unfunded</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">(73</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">78</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">72</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">(72</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Telkomsel</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">(76</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">82</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">82</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">(77</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Post-employment
  health care</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">(1,</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">240&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1,</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">507&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1,</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">643&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">(1,</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">364&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=31% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Other
  post-employment benefits</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">(16</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">18</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.5pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.5pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The sensitivity
analysis have been determined based on a method that extrapolates the impact on
DBO as a result of reasonable changes in key assumptions occurring at the end
of the reporting period.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.5pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">The sensitivity
results above determine the individual impact on the Plan&#8217;s </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">DBO at the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">end of the
year. In reality, the Plan is subject to multiple external experience items
which may move the DBO in similar or opposite directions, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">and&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> the Plan&#8217;s
sensitivity to such changes can vary over time. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.5pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">There are no changes
in the methods and assumptions used in preparing the sensitivity analys</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">e</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s from the
previous period.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_267"></a><a name="_bclPageBorder267"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; LONG SERVICE
AWARDS PROVISIONS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:4.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Telkomsel
and Patrakom provide certain cash awards or certain number of days leave
benefits to </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">its&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> employees
based on the employees&#8217; length of service requirements, including LSA and LSL.
LSA
are
either paid at the time the employees reach </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">certain years during </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">employment, or at the time of
termination. LSL </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">are
either </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">certain
number of days leave benefit or cash, subject to approval by management,
provided to employees who m</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ee</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">t the requisite number of years of service
and with a certain minimum age.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">The
obligation with respect to these awards </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">which </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">was determined based on an actuarial
valuation using the Projected Unit Credit method, amount</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ed&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> to Rp410</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> b</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">illion and </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">501 </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">billion&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> as of December 31,
2014 and 2015, respectively</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> The related benefit costs charged to expense amounted to
Rp19 billion, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Rp1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">15&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and Rp152
billion
for
the year</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> ended
December 31, 2013, 2014 and 2015, respectively (Note 27)</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">3</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4</font></b><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">.&#160; RELATED PARTY TRANSACTIONS </font></b></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Nature of
relationships and accounts/transactions
with related parties</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Details
of the nature of relationships and
accounts/transactions with significant related parties are as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=30% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Related parties</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Nature of relationships</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;"> with related
  parties</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=43% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Nature of accounts</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">/transactions&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">The Government-Ministry of Finance</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></p>
  </td>
 <td valign=top width=25% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Majority stockholder</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Internet and data service revenues, other telecommunication
  service revenues, finance income, finance costs and investment in financial
  instruments</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Government agencies</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=25% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Network revenues and operating expenses</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">MoCI</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=25% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Concession fees, radio frequency usage charges, USO charges,
  telecommunication service revenues and operating expenses</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">State-owned enterprises</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=25% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Internet and data service revenues, other telecommunication
  services revenues, operating expenses, and purchase of property and equipment</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Indosat</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=25% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Interconnection revenues, leased lines revenues, satellite
  transponder usage revenues, leased line revenues, interconnection expenses,
  telecommunication facilities usage expenses, operating and maintenance
  expenses and usage of data communication network system expenses</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PT Aplikanusa Lintasarta (&#8220;Lintasarta&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=25% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Interconnection revenues, network revenues, usage of data
  communication network system expenses and leased lines expenses</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Indosat Mega Media</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=25% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Network revenues</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PT Perusahaan Listrik Negara (&#8220;PLN&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=25% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Electricity expenses, finance income, finance costs and
  investment in financial instrument</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PT Pertamina (Persero) (&#8220;Pertamina&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=25% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Internet and data service revenues, other telecommunication
  service revenues </font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PT Kereta Api Indonesia (&#8220;KAI&#8221;) </font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=25% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Internet and data service revenues, other telecommunication
  service revenues</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PT Pegadaian</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=25% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Internet and data service revenues, other telecommunication
  service revenues</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PT Garuda Indonesia</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=25% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Internet and data service revenues, other telecommunication
  service revenues </font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PT Indonesia Comnet Plus (&#8220;ICON Plus&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=25% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Internet and data service revenues, other telecommunication
  service revenues and interconnection revenues </font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=30% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Badan Penyelenggara Jaminan Sosial (&#8220;BPJS&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=25% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=43% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Internet and data service revenues, other telecommunication
  service revenues and insurance for employee</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="background:white;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_268"></a><a name="_bclPageBorder268"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader268"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">3</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4</font></b><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">.&#160; RELATED PARTY TRANSACTIONS (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Nature of
relationships and accounts/transactions
with related parties (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=29% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Related parties</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=27% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Nature of relationships </font></b><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">with related parties</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=42% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Nature of
  accounts</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">/transactions&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PT Asuransi Jasa Indonesia
  (&#8220;Jasindo&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Satellite insurance expenses
  and vehicle insurance expenses</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PT Adhi Karya Tbk (&#8220;Adhi
  Karya&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Purchase of materials and
  construction services</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PT Waskita Karya Tbk
  (&#8220;Waskita&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Purchase of materials and
  construction services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">INTI</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Purchase of property and
  equipment</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">LEN</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Purchase of property and
  equipment</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">State-owned banks</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Finance income and finance
  costs</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">BNI</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Internet and data service
  revenues, other telecommunication service revenues, finance income and
  finance costs</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Bank Mandiri</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Internet and data service
  revenues, other telecommunication service revenues, finance income and
  finance costs</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">BRI</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Internet and data service
  revenues, other telecommunication service revenues, finance income and
  finance costs</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">BTN</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Internet and data service
  revenues, other telecommunication service revenues, finance income and
  finance costs</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PT Bank Syariah Mandiri
  (&#8220;BSM&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Internet and data service
  revenues, other telecommunication service revenues and finance costs</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Bahana</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Available-for-sale financial
  assets, bonds and notes</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">CSM</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Associated company</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Satellite transponder usage
  revenues, leased lines revenues, and transmission lease expenses</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Indonusa*)</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Associated company</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Network revenues and data
  communication expenses</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PSN**)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Associated company</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Satellite transponders usage
  revenues, leased lines revenues, transmission lease expenses, interconnection
  revenues and interconnection expenses</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PT Poin Multi Media Nusantara
  (&#8220;POIN&#8221;)***</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Associated company</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Purchases of handsets</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Koperasi Pegawai Telkom
  (&#8220;Kopegtel&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under significant influence</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Purchase of property and
  equipment, construction and installation services, leases of buildings,
  leases of vehicles, purchases of vehicles, purchases of materials and
  construction services, utilities of maintenance and cleaning services and RSA
  revenues</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Yakes </font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under significant
  influence</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Medical expenses</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PT Sandhy Putra Makmur(&#8220;SPM&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under significant
  influence</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Leases of buildings, leases of
  vehicles, purchase of materials and construction services, utilities of
  maintenance and cleaning services</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Koperasi Pegawai Telkomsel
  (&#8220;Kisel&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under significant
  influence</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Internet and data service
  revenues, other telecommunication service revenues, leases of vehicles,
  printing and distribution of customer bills expenses, collection fee, other
  services fee, distribution of SIM cards and pulse reload voucher, and
  purchase of property and equipment</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PT Graha Informatika Nusantara
  (&#8220;Gratika&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under significant
  influence</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Interconnection revenues,
  installation expenses, maintenance expenses and purchase of property and
  equipment</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=29% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PT Pembangunan Telekomunikasi
  Indonesia (&#8220;Bangtelindo&#8221;)</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=27% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under significant
  influence</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Purchase of property and
  equipment</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_269"></a><a name="_bclPageBorder269"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader269"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">3</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">4</font></b><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">.&#160; RELATED PARTY TRANSACTIONS (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Nature of
relationships and accounts/transactions
with related parties (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=32% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=32% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Nature of
  relationships</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=32% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=32% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Related parties</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=32% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">with related parties</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=32% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Nature of accounts</font></b><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">/transactions&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=32% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Directors
  and commissioners</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=32% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Key
  management personnel</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=32% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Honorarium
  and facilities</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:6.5pt;">*) On October 8, 2013, the Company sold its
80% ownership in Indonusa.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:6.5pt;line-height:115%;">**)
On June 26, 2014, PSN is no longer an associated company due to the dilution in
percentage of ownership.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:6.5pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; ***) On
September 18, 2014, PINS acquired 25% ownership in Tiphone (Note 10). POIN is
subsidiary of Tiphone.&#160;&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;line-height:115%;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
outstanding balances of trade receivables and payables at year-end are
unsecured and interest free and settlement occurs in cash. There have been no
guarantees provided or received for any related party receivables or payables.
In 2015, the Group recorded impairment of receivables from related parties of
Rp280 billion. This assessment is undertaken each financial year through
examining the current status of existing receivables and historical collection
experience.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:20.7pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.&#160; Transactions with
related parties</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:20.7pt;"><b><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:27.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160; The
following are significant transactions with related parties:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="background:#c6d9f1;border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td colspan=3 valign=bottom width=26% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:transparent;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">% of total revenues</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">% of total revenues</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">% of total revenues</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:8.0pt;">REVENUES</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Majority Stockholder
  </font></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">The Government -
  Ministry of Finance</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">178</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">.2</font><font face=arial,sans-serif style="font-size:8.0pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">168</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">.1</font><font face=arial,sans-serif style="font-size:8.0pt;">9&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">206</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">0.20</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Entities under
  common control</font></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Government agencies</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1,603</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1.93</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1,328</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1.48</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1,650</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1.61</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Indosat</font></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1,116</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1.35</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1,015</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1.13</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1,020</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1.00</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">BRI</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">231</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.28</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">277</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.31</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">188</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.18</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Bank Mandiri</font></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">204</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.25</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">133</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.15</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">151</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.15</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">BNI</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">123</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.15</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">137</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.15</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">126</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.12</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Pertamina</font></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">142</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.17</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">69</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.08</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">99</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.10</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">MoCI</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">641</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.77</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">253</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.28</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">98</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.10</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">KAI</font></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">87</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.10</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">100</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.11</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">90</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.09</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">PT Pegadaian</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">178</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.22</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">306</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.34</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">89</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.09</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Lintasarta</font></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">87</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.10</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">81</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.09</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">82</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.08</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">PT Garuda Indonesia</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">70</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.08</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">52</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.06</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">77</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.08</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">ICON Plus</font></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">65</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.08</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">24</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.03</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">63</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.06</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">BTN</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">86</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.10</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">30</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.03</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">41</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.04</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">BPJS</font></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">27</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.03</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">28</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.03</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">35</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.03</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">4,660</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">5.61</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">3,833</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">4.27</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">3,809</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">3.73</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Entities under
  significant influence</font></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Kisel</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">2,756</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">3.32</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">3,076</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">3.43</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">3,869</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">3.78</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Gratika</font></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">375</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.45</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">389</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.43</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">416</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.41</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">3,131</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">3.77</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">3,465</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">3.86</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">4,285</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">4.19</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Associated companies</font></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Indonusa*)</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">103</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.12</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">74</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.08</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">60</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.06</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">CSM</font></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">45</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.05</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">37</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.04</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">34</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.03</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.45in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">PSN**)</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">31</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.04</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">179</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.21</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">111</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.12</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">94</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.09</font></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">328</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.40</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">319</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.35</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">248</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">0.24</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">8,476</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:transparent;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">10.20</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">7,896</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">8.79</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">8,642</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:transparent;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">8.45</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:transparent;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_270"></a><a name="_bclPageBorder270"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader270"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:115%;">4</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.&#160; RELATED
PARTY TRANSACTIONS </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:115%;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.&#160;&#160; Transactions
with related parties (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=3 valign=bottom width=26% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total expenses</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total expenses</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total expenses</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">EXPENSES</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entities under common control</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">MoCI</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">4,606</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">8.07</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">5,031</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">8.22</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">5,862</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">8.42</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Indosat</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1,008</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.77</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">937</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.53</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">977</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.40</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PLN</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">651</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.14</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">721</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.18</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">738</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.06</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Jasindo</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">333</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.58</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">291</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.48</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">256</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.37</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">BPJS</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">39</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.07</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">46</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.08</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">33</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.05</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">6,637</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">11.63</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">7,026</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">11.49</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">7,866</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">11.30</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Associated companies</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">POIN***)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">320</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.52</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1,485</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2.13</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PSN**)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">187</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.33</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">187</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.33</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">320</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.52</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1,485</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2.13</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entities under significant influence</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Kisel</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">743</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.30</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">922</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.50</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">748</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.07</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Kopegtel</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">692</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.21</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">550</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.90</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">460</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.66</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Yakes</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">159</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.28</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">157</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.26</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">174</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.25</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1,594</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2.79</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1,629</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2.66</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1,382</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.98</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">325</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.57</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">140</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.23</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">72</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.10</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">8,743</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">15.32</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">9,115</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">14.90</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">10,805</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">15.51</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=26% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total finance income</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total finance income</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total finance income</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">FINANCE INCOME</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Majority stockholder</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">The Government - Ministry of Finance</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">13</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.56</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">13</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.05</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">9</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.64</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entities under common control</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">State-owned banks</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">530</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">63.40</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">750</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">60.58</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">830</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">58.99</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">7</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.84</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.24</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">17</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.21</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=22% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">550</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">65.80</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">766</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">61.87</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">856</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">60.84</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_271"></a><a name="_bclPageBorder271"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader271"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:115%;">4</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.&#160; RELATED
PARTY TRANSACTIONS </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:115%;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.&#160;&#160; Transactions
with related parties (continued)</font></b></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=26% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=25% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total finance costs</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total finance costs</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total finance costs</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">FINANCE COSTS</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Majority stockholder </font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">The Government - Ministry of Finance</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">84</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">5.59</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">85</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">4.69</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">76</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">3.06</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entities under common control</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">State-owned banks</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">518</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">34.44</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">830</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">45.80</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1,061</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">42.77</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">4</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.27</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=22% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">606</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=13% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">40.30</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">915</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">50.49</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">1,137</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">45.83</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&#160;&#160;&#160; &nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=26% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=3 valign=bottom width=36% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=3 valign=bottom width=37% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:8.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=26% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total property and equipment purchased</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total property and equipment purchased</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=26% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">PURCHASE OF PROPERTY AND EQUIPMENT (Note 11)</font></b></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=26% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entities under common control</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=26% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">INTI</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">429</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.74</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">394</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.49</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=26% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">LEN</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">40</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.16</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">72</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.27</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=26% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">469</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.90</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">466</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.76</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=26% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entities under significant influence</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=26% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Kopegtel</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">109</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.44</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">131</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.50</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=26% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Bangtelindo</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">86</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.33</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=26% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Kisel</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">73</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.28</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=26% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">SPM</font></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">29</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.12</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">62</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.23</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=26% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Gratika</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">33</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.13</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">45</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.17</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=26% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">171</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.69</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">397</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.51</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=26% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">12</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.05</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=26% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">640</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2.59</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">875</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">3.32</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:37.1pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Presented below are
balances of accounts with related parties: </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:37.1pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr style="height:1.35pt;">
  <td valign=bottom width=1% style="height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=32% style="border-bottom:solid windowtext 1.0pt;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:8.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.35pt;">
  <td valign=bottom width=1% style="height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total assets</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total assets</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.35pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">a. </font></b></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;"> Cash and cash equivalents (Note 5)</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">10,539</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">7.44</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">17,106</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">10.31</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.35pt;">
  <td valign=bottom width=1% style="height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">b. </font></b></p>
  </td>
 <td valign=bottom width=35% style="height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;"> Other current financial assets (Note 6)</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2,713</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.92</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2,519</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.52</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.35pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif lang=X-NONE style="font-size:12.0pt;">&nbsp;</font></sup></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_272"></a><a name="_bclPageBorder272"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:115%;">4</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">.&#160; RELATED
PARTY TRANSACTIONS </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;line-height:115%;">(continued)&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:35.1pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.&#160;&#160; Transactions
with related parties (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td colspan=3 valign=bottom width=32% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td colspan=3 valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:8.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total assets</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total assets</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">c.</font></b></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;"> Trade receivables (Note 7)</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1,731</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.22</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1,597</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.96</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">d.</font></b></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;"> Advances and prepaid expenses (Note 9)</font></b></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under common control</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">MoCI</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2,699</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.90</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2,935</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.77</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">24</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.02</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.01</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2,723</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">1.92</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2,950</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">1.78</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">e.</font></b></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;"> Advances and other non-current assets (Note 12)</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entities under common control</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">MoCI</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">493</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.35</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">404</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.24</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">BNI</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">12</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.01</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.00</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">505</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.36</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">404</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.24</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">5</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.00</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">6</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.00</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">510</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">0.36</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">410</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">0.24</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:6.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=3 valign=bottom width=32% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=3 valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:8.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total liabilities</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total liabilities</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">f.</font></b></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;"> Trade payables (Note 14)</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entities under common control</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">MoCI</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1,160</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2.08</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1,329</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.83</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">INTI</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">323</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.58</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">443</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.61</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Indosat</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">146</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.26</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">295</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.41</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Adhi Karya</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">61</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.11</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">96</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.13</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">LEN</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">36</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.07</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">91</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.13</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Waskita</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">19</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.03</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1,726</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">3.10</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2,273</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">3.14</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entities under significant influence</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Kopegtel</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">55</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.10</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">102</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.14</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Yakes</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">46</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.08</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">38</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.05</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">SPM</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">11</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.02</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">23</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.03</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Bangtelindo</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">7</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.01</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">19</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.03</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Kisel</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">16</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.02</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">119</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.21</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">198</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.27</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">213</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.38</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">933</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1.28</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2,058</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">3.69</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">3,404</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">4.69</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></sup></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_273"></a><a name="_bclPageBorder273"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; RELATED PARTY
TRANSACTIONS </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:9.05pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.05pt;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; b.&#160;&#160; Transactions with related parties
(continued)</font></b></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><sup><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></sup></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=32% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=3 valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:8.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total liabilities</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total liabilities</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">g.</font></b></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;"> Accrued expenses (Note 15)</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Majority stockholder</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">The Government - Ministry of Finance</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">16</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.03</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">16</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.02</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entities under common control</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">PLN</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">83</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.15</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">112</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.16</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">State-owned banks</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">84</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.15</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">68</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.09</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Sub-total</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">167</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.30</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">180</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.25</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entity under significant influence</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Kisel</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">191</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.34</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">188</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.26</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Others</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.00</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.00</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">376</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">0.67</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">386</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">0.53</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">h.</font></b></p>
  </td>
 <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;"> Advances from customers and suppliers</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Majority stockholder</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">The Government - Ministry of Finance</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">19</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.03</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">19</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.03</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">i.</font></b></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Short-term bank loans (Note 17a)</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entities under common control</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">BRI</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">57</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.10</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">57</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.08</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">BNI</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">25</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.03</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">BSM</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.03</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">15</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.02</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">72</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">0.13</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">97</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">0.13</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">j.</font></b></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Two-step loans (Note 18a)</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Majority stockholder</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">The Government - Ministry of Finance</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1,615</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2.90</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">1,520</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2.09</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">k.</font></b></p>
  </td>
 <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;"> Long-term bank loans-net (Note 18c)</font></b></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Entities under common control</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">BNI</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2,975</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">5.34</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">5,592</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">7.69</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">BRI</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">4,357</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">7.82</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2,633</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">3.62</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.45in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Bank Mandiri</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2,181</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">3.92</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">2,564</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">3.52</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=35% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">9,513</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">17.08</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">10,789</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">14.83</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:9.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><sup><font face=Arial,sans-serif lang=X-NONE style="font-size:12.0pt;">&nbsp;</font></sup></p>

<p style="margin:0in;margin-bottom:.0001pt;vertical-align:baseline;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; RELATED PARTY
TRANSACTIONS </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">c</font></b><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">. Significant agreements with related parties</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i.&#160;&#160; The
Government</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160; The Company obtained
two-step loans from the Government (Note 1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">8</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a). &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ii.&#160;&#160; Indosat</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160; The
Company has an agreement with Indosat to provide international
telecommunications services to the public.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160; The Company has also entered into an
interconnection agreement between the Company&#8217;s fixed line network (Public
Switched Telephone Network or &#8220;PSTN&#8221;) and Indosat&#8217;s GSM mobile cellular
telecommunications network in connection with the implementation of Indosat
Multimedia Mobile services and the settlement of related interconnection rights
and obligations.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160; The
Company also has an agreement with Indosat for the interconnection of Indosat's
GSM mobile cellular telecommunications network with the Company's PSTN, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">which enable </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">each party&#8217;s
customers to make domestic calls between Indosat&#8217;s GSM mobile network and the
Company&#8217;s fixed line network</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, as well as </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">allowing Indosat&#8217;s mobile customers to
access the Company&#8217;s IDD service by dialing &#8220;007&#8221;.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160; The
Company has been handling customer billings and collections for Indosat.
Indosat is gradually taking over the activities and performing its own direct
billing and collection. The Company has received compensation from Indosat
computed at 1% of the collections made by the Company </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">starting from</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> January 1, 1995, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">as well as</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> the billing process
expenses which are fixed at a certain amount per record. On December 11, 2008,
the Company and Indosat agreed to implement IDD service charge tariff which
already t</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">ook&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> into account the
compensation for billing and collection. The agreement is valid and effective
starting from January to December 2012, and can be applied until a new
agreement becomes available. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:51.8pt;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:49.7pt;text-align:justify;text-indent:-.05pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">On December 28, 2006, the Company and Indosat signed
amendments to the interconnection agreements for the fixed line networks
(local, SLJJ and international) and mobile network for the implementation of
the cost-based tariff obligations under the MoCI&nbsp;Regulation No.8/Year
2006. These amendments took effect starting on January 1, 2007. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160; Telkomsel
also entered into an agreement with Indosat for the provision of international
telecommunications services to its GSM mobile cellular customers. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160; The
Company provides leased lines to Indosat and its subsidiaries, namely PT
Indosat Mega Media and Lintasarta. The leased lines can be used by these
companies for telephone, telegraph, data, telex, facsimile or other
telecommunication services. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">iii.
Others</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.1pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-15.0pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160; The
Company has entered into agreements with CSM and Gratika for the utilization of
the Company's satellite transponders or frequency channels of communication
satellite and leased lines.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:49.5pt;text-align:justify;text-indent:-13.5pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160; &nbsp;</font></p>




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</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; RELATED PARTY
TRANSACTIONS (continued)</font></b></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">c</font></b><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">.&#160;&#160; Significant agreements with related parties
(continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">iii.&#160; Others (continued)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:50.0pt;text-align:justify;text-indent:-11.5pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.1pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Kisel
is a co</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">operative that was
established by Telkomsel&#8217;s employees to engage in car rental services, printing
and distribution of customer bills, collection and other services principally
for the benefit of Telkomsel. Telkomsel also has dealership agreements with
Kisel for distribution of SIM cards and pulse reload vouchers.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.1pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.1pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">On
June 27, 2014, the Company signed a conditional business transfer payment with
Telkomsel to transfer business and customers of Flexi to Telkomsel (Note
36c.ii).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.1pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">d</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. &nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;Key
management personnel remuneration</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.1pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Key
management personnel consists of the Boards of Commissioners and Directors of
the Company.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Company provides remuneration in the form of salaries/honorarium and facilities
to support the governance and oversight duties of the Boards of Commissioners
and Directors. The total of such remuneration is as follows:</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=30% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=3 valign=bottom width=22% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=30% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total expenses</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total expenses</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">% of total expenses</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=30% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Board of Directors</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">115</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">0.20%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">262</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">0.</font><font face=Arial,sans-serif style="font-size:8.0pt;">43</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">168</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">0.</font><font face=Arial,sans-serif style="font-size:8.0pt;">24</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=30% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Board of Commissioners</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">49</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">0.</font><font face=Arial,sans-serif style="font-size:8.0pt;">09</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">75</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">0.</font><font face=Arial,sans-serif style="font-size:8.0pt;">12</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">64</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">0.</font><font face=Arial,sans-serif style="font-size:8.0pt;">09</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&#160;&#160;&#160; &nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
amounts disclosed in the table are the amounts recognized as an expense during
the reporting periods related to key management personnel.</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. SEGMENT INFORMATION</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group
has four main operating segments, namely corporate, home, personal and others.
The corporate segment provides telecommunications services, including
interconnection, leased lines, satellite, VSAT, contact center, broadband
access, information technology services, data and internet services to
companies and institutions. The home segment provides fixed wireline
telecommunications services, pay TV, data and internet services to home
customers. The personal segment provides mobile cellular and fixed wireless
telecommunications services to individual customers. Operating segments that
are not monitored separately by the Chief Operation Decision Maker are
presented as &quot;Others&quot;, which provide building management services.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">No operating segments
have been aggregated to form the operating segments of personal, home and
others, while corporate operating segment is aggregated from business, enterprise,
wholesale and international operating segments since they have the similar
economic characteristics and similar in other qualitative criteria such as
providing similar network services and serving corporate customers.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>




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<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">35</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. SEGMENT INFORMATION
(continued)</font></b></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; Management
monitors the operating results of the business units separately for the purpose
of making decisions about resource allocation and performance assessment.
Segment performance is evaluated based on operating profit or loss and is
measured </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">on the basis of
Indonesian Financial Accounting Standards which differ from IFRS primarily in
the accounting for land rights. </font></p>

<p style="background:white;margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">However, the financing activities and income
taxes are</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> managed on a group basis and</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> not separately monitored and allocated to
operating segment</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">s</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Segment revenues and expenses include
transactions between </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">operating </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">segments and are accounted at prices that
management believes represent market prices.</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.84%;">
 <tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=17 valign=bottom width=80% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Corporate</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Home</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Personal</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Others</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Total before
  elimination</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Elimination</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Total consolidated</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">IFRS reconciliation</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">IFRS balance</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Segment
  results</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Revenues</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">External
  revenues</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">17,041</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">6,669</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">59,028</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">229</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">82,967</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">82,967</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">82,967</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Inter-segment
  revenues</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">8,549</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">2,794</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">2,358</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">909</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">14,610</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(14,610</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Total
  segment revenues</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">25,590</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">9,463</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">61,386</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">1,138</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">97,577</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(14,610</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">82,967</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">82,967</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Expenses</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">External
  expenses</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(15,211</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(5,939</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(32,991</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(980</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(55,121</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(55,121</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(119</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(55,240</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Inter-segment
  expenses</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(5,164</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(2,946</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(6,472</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(28</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(14,610</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">14,610</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Total
  segment expenses</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(20,375</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(8,885</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(39,463</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(1,008</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(69,731</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">14,610</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(55,121</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(119</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(55,240</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Segment
  results</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">5,215</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">578</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">21,923</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">130</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">27,846</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">27,846</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(119</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">27,727</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Other
  information</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Capital
  expenditures</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(6,237</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(2,340</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(15,662</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(659</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(24,898</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(24,898</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(24,898</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Depreciation
  and amortization</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(2,423</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(1,487</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(11,234</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(40</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(15,184</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(15,184</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(25</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(15,209</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Impairment
  of assets</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(596</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(596</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(596</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(596</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Provision
  for impairment of receivables</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(994</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(390</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(202</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(1,589</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(1,589</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(1,589</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.84%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><sup><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></sup></p>
  </td>
 <td colspan=17 valign=bottom width=80% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Corporate</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Home</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Personal</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Others</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Total before
  elimination</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Elimination</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Total consolidated</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">IFRS reconciliation</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:5.0pt;">IFRS balance</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Segment results</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Revenues</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">External revenues</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">18,763</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">6,682</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">64,000</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">251</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">89,696</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">89,696</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">89,696</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Inter-segment
  revenues</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">10,652</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">2,667</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">2,686</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">1,632</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">17,637</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(17,637</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Total segment
  revenues</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">29,415</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">9,349</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">66,686</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">1,883</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">107,333</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(17,637</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">89,696</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">89,696</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Expenses</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">External expenses</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(16,014</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(5,407</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(37,243</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(1,655</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(60,319</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(60,319</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(205</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(60,524</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Inter-segment
  expenses</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(6,561</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(3,487</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(7,526</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(63</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(17,637</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">17,637</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Total segment
  expenses</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(22,575)</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(8,894</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(44,769</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(1,718</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(77,956</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">17,637</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(60,319</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(205</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(60,524</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Segment results</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">6,840</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">455</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">21,917</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">165</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">29,377</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">29,377</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(205</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">29,172</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:5.0pt;">Other information</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Capital expenditures</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(7,312</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(3,529</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(13,200</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(620</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(24,661</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(24,661</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(24,661</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Depreciation and
  amortization</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(2,699</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(1,495</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(12,071</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(61</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(16,326</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(16,326</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(47</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(16,373</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Impairment of assets</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(805</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(805</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(805</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(805</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=20% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:5.0pt;">Provision for
  impairment of receivables</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(184</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(467</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(133</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(784</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(784</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:5.0pt;">(784</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
</table></div>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:9.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_277"></a><a name="_bclPageBorder277"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader277"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">35</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. SEGMENT INFORMATION
(continued)</font></b></p>

<p style="margin-bottom:0in;margin-left:31.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.5pt;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.84%;">
 <tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=17 valign=bottom width=80% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">Corporate</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">Home</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">Personal</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">Others</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">Total before elimination</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">Elimination</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">Total consolidated</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">IFRS reconciliation</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">IFRS balance</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">Segment results</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:5.0pt;">Revenues</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:5.0pt;">External revenues</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">21,072</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">7,319</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">73,766</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">313</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">102,470</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">102,470</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">102,470</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">Inter-segment
  revenues</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">14,347</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">4,352</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">2,365</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">1,943</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">23,007</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(23,007</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:5.0pt;">Total segment revenues</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">35,419</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">11,671</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">76,131</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">2,256</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">125,477</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(23,007</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">102,470</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">102,470</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:5.0pt;">Expenses</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:5.0pt;">External expenses</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(20,239</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(6,705</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(41,130</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(1,978</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(70,052</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(70,052</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">(49</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(70,101</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:5.0pt;">Inter-segment expenses</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(8,066</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(4,706</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(10,173</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(62</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(23,007</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">23,007</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:5.0pt;">Total segment expenses</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(28,305</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(11,411</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(51,303</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(2,040</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(93,059</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">23,007</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(70,052</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">(49</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(70,101</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:5.0pt;">Segment results</font></p>
  </td>
 <td valign=bottom width=7% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">7</font><font face=Arial,sans-serif style="font-size:5.0pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">114&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">260</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">2</font><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">4</font><font face=Arial,sans-serif style="font-size:5.0pt;">,8</font><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">28&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">2</font><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">1</font><font face=Arial,sans-serif style="font-size:5.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">32,</font><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">418&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=Arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">32,</font><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">418&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">(49</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">32,3</font><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">69&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">Other information</font></b></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-top:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-top:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-top:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-top:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-top:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;border-top:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;border-top:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;border-top:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:5.0pt;">Capital expenditures</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(10,007</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(4,172</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(11,321</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(901</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(26,401</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(26,401</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(26,401</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:5.0pt;">Depreciation and
  amortization</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(2,708</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(1,203</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(14,531</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(92</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(18,534</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=8% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(18,534</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(38</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=15% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(18,572</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:5.0pt;">Provision for impairment of
  receivables</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(560</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(297</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(148</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(5</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(1,010</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=8% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">(1,010</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 <td valign=bottom width=7% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=15% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:5.0pt;">(1,01</font><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">0&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">)</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><u><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Geographic information:</font></u></i></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.84%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">External revenues</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Indonesia</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">81,095</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">87,896</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">100</font><font face=Arial,sans-serif style="font-size:10.0pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">456&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Foreign countries</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,872</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1,800</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2</font><font face=Arial,sans-serif style="font-size:10.0pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">01</font><font face=Arial,sans-serif style="font-size:10.0pt;">4&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=bottom width=50% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:3.0pt;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:3.0pt;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">82,967</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:3.0pt;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:3.0pt;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">89,696</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:3.0pt;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:3.0pt;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">10</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">,</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">470&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:3.0pt;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:35.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-17.85pt;"><sup><font face=Arial,sans-serif lang=X-NONE style="font-size:14.0pt;line-height:50%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></sup></p>

<p style="margin-bottom:0in;margin-left:17.85pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The revenue information above is based on the location
of the customers.</font></p>

<p style="margin-bottom:0in;margin-left:17.85pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.84%;">
 <tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">3&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">201</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Non-current operating assets</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Indonesia</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">87,193</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">95,920</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">1</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">05</font><font face=Arial,sans-serif style="font-size:10.0pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">116&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Foreign countries</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">914</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">1</font><font face=Arial,sans-serif style="font-size:10.0pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">145&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">1,</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">395&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:3.0pt;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:3.0pt;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">88</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">,</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">107&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:3.0pt;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:3.0pt;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">97</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">,</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">065&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:3.0pt;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:3.0pt;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">10</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">,</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">511&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:3.0pt;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:17.85pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:17.85pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Non-current operating assets for this purpose consist
of property and equipment and intangible assets.</font></p>

<p style="margin-bottom:0in;margin-left:17.85pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_278"></a><a name="_bclPageBorder278"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader278"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; SIGNIFICANT
COMMITMENTS AND AGREEMENTS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&#160;&#160; Capital
expenditures</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; As
of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December
31, 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,
capital expenditures committed under the contractual arrangements, principally
relating to procurement and installation of data, internet and information
technology, cellular, switching equipment, transmission equipment and cable
network are as follows:</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=60% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Currencies</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Amounts in foreign
  currencies</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Equivalent in
  Rupiah</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Rupiah</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">10,648</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">U.S.
  dollar</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">320</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4,410</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">Euro</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">0.21</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">3</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:10.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:10.0pt;">15,061</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The above balance
includes the following significant agreements:&#160; </font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;text-align:justify;text-indent:-22.5pt;"><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;text-align:justify;text-indent:-22.5pt;"><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160; The Company </font></i></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;text-align:justify;text-indent:-22.5pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=38% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Contracting parties</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Initial date of
  agreement</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=43% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Significant
  provisions of the agreement</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">The
  Company and PT Industri Telekomunikasi Indonesia</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">December
  30, 2010</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Procurement
  and installation agreement for the modernization of copper cable network
  through optimalization of asset copper cable network through Trade In/Trade
  Off method</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">The
  Company and  PT LEN Industri (Persero)</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">March
  29, 2012</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Procurement
  and installation agreement for the modernization of copper cable network
  through optimalization of asset copper cable network through Trade In/Trade
  Off method</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">The
  Company and JF DJAFA Consortium</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">November
  14, 2012</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Procurement
  and installation agreement of </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Outside Plant Fiber To The Home (</font><font face=arial,sans-serif style="font-size:8.0pt;">OSP FTTH</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">)&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">The
  Company and ASN-PT Lintas Consortium</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">May
  6, 2013</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Procurement
  and installation agreement of Sulawesi Maluku Papua Cable System (SMPCS)
  project</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">The
  Company and NEC Corp-PT NEC Indonesia Consortium</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">May
  28, 2013</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Procurement
  and installation of SMPCS </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">P</font><font face=arial,sans-serif style="font-size:8.0pt;">ackage-2&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">The
  Company and PT Cisco Technologies Indonesia</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">November
  14, 2013</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Procurement
  and installation agreement of WIFI CISCO</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">The
  Company and PT NEC Indonesia</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">November
  29, 2013</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Procurement
  and installation </font><font face=arial,sans-serif style="font-size:8.0pt;">agreement
  </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">of
  IP Radio Equipment for Backhaul Node-B Telkomsel </font><font face=arial,sans-serif style="font-size:8.0pt;">Package</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">-3 Platform
  NEC</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">The
  Company and PT </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Huawei
  Tech Investment</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">December
  6</font><font face=arial,sans-serif style="font-size:8.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">3&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Procurement
  and installation </font><font face=arial,sans-serif style="font-size:8.0pt;">agreement
  </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">of
  IP Radio Equipment for Backhaul Node-B Telkomsel </font><font face=arial,sans-serif style="font-size:8.0pt;">Package</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">-2 Platform
  Huawei</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_279"></a><a name="_bclPageBorder279"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader279"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">36</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. SIGNIFICANT
COMMITMENTS AND AGREEMENTS (continued)</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&#160;&#160; Capital
expenditures (continued)</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;text-align:justify;text-indent:-22.5pt;"><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">(i)</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font></i><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The Company
(continued)</font></i></p>

<p style="background:white;margin-bottom:10.0pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">&nbsp;</font></i></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr style="height:1.0pt;">
  <td valign=bottom width=38% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Contracting parties</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Initial date of
  agreement</font></b></p>
  </td>
 <td valign=bottom width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=43% style="border-bottom:solid windowtext 1.0pt;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Significant
  provisions of the agreement</font></b></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">The
  Company and PT Ericsson Indonesia - PT Infracell Nusatama</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">December
  23, 2013</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Procurement
  and installation </font><font face=arial,sans-serif style="font-size:8.0pt;">agreement
  </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">of
  IP Radio Equipment for Backhaul Node-B Telkomsel Package-1
  Platform Ericsson</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">The
  Company and Thales Alenia Space France</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">July
  14, 2014</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Procurement
  of Telkom-3 Substitution (T3S) Satellite System</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">The
  Company and PT </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Huawei
  Tech Investment</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">October 23</font><font face=arial,sans-serif style="font-size:8.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">4&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Procurement
  and installation </font><font face=arial,sans-serif style="font-size:8.0pt;">agreement
  </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">of
  Access Point Indonesia WIFI Platform Huawei</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">The
  Company, Telkom Malaysia Berhad, Telin, Alcatel-Lucent Submarine
  Networks and NEC Corporation</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">January
  30, 2015</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Procurement
  and installation </font><font face=arial,sans-serif style="font-size:8.0pt;">agreement
  </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">of
  Southeast Asia</font><font face=arial,sans-serif style="font-size:8.0pt;">-</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Middle East</font><font face=arial,sans-serif style="font-size:8.0pt;">-</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Western
  Europe 5 Cable System (SEA</font><font face=arial,sans-serif style="font-size:8.0pt;">-</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">ME</font><font face=arial,sans-serif style="font-size:8.0pt;">-</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">WE 5)</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">The
  Company and PT Huawei Tech Investment</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">August
  28, 2015</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Procurement
  and installation agreement of MSAN modernization for acceleration of the
  disposal of copper wire - Platform Huawei</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="background:white;margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">The Company and PT </font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;">ZTE
  Indonesia</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">August
  28, 2015</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Procurement
  and installation agreement of MSAN modernization for acceleration of the
  disposal of copper wire - Platform ZTE</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">The
  Company and PT </font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;">Lintas Teknologi Indonesia</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;">November</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> 17,</font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;"> 2015</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Procurement
  and installation agreement for</font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;"> DWDM Platform Alcatel - Lucent (ALU)</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">The
  Company and PT </font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;">Datacomm Diangraha</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;">November</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> 20,</font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;"> 2015</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Procurement
  and installation agreement for</font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;"> Metro Ethernet Platform ALU</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">The
  Company and PT </font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;">Sisindokom Lintasbuana</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;">November</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> 23,</font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;"> 2015</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Procurement
  and installation agreement for </font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;">PE-VPN CISCO</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">The
  Company and PT Huawei Tech Investment</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">December
  1,</font><font face=arial,sans-serif style="font-size:8.0pt;"> 2015</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Procurement
  and installation agreement for </font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;">Metro Ethernet Platform Huawei</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">The
  Company and PT </font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;">Mastersystem Infotama</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">December
  3,</font><font face=arial,sans-serif style="font-size:8.0pt;"> 2015</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Procurement
  and installation agreement for </font><font face=arial,sans-serif style="font-size:8.0pt;">IP Backbone System expansion</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">The
  Company and PT </font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;">ZTE Indonesia</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">December
  21,</font><font face=arial,sans-serif style="font-size:8.0pt;">
  2015</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Procurement
  and installation agreement for</font><font face=arial,sans-serif style="font-size:8.0pt;"> IPTV Platform ZTE capacity expansion</font></p>
  </td>
 <td valign=top width=1% style="height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:1.0pt;">
  <td valign=top width=38% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">The
  Company and PT </font><font face=arial,sans-serif lang=EN-AU style="font-size:8.0pt;">Sarana Global Indonesia</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">December
  31,</font><font face=arial,sans-serif style="font-size:8.0pt;">
  2015</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Procurement
  and installation agreement of Sistem Komunikasi Kabel Laut (&#8220;SKKL&#8221;)
  Sibolga-Nias, </font><font face=arial,sans-serif style="font-size:8.0pt;">Batam-Tanjung
  Balai Karimun, Larantuka-Kabalahi-Atambua</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;height:1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_280"></a><a name="_bclPageBorder280"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader280"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">36</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. SIGNIFICANT
COMMITMENTS AND AGREEMENTS (continued)</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.&#160;&#160; Capital
expenditures (continued)</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;text-align:justify;text-indent:-22.5pt;"><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">(ii)</font></i><i><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font></i><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Telkomsel&nbsp;</font></i></p>

<p style="background:white;margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></i></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.5in;width:95.68%;">
 <tr>
  <td valign=bottom width=38% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Contracting parties</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Initial date of
  agreement</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=43% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Significant
  provisions of the agreement</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=38% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Telkomsel,
  PT Ericsson Indonesia, Ericsson AB, PT Nokia Siemens Networks, </font><font face=arial,sans-serif style="font-size:8.0pt;">NSN&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> Oy and
  Nokia Siemens Network GmbH &amp; Co. KG</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">April</font><font face=arial,sans-serif style="font-size:8.0pt;"> 17,</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> 2008</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">The
  c</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">ombined
  2G and 3G CS Core Network Rollout Agreements</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:10.35pt;">
  <td valign=top width=38% style="height:10.35pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Telkomsel,
  PT Ericsson Indonesia and PT Nokia Siemens Networks</font></p>
  </td>
 <td valign=top width=1% style="height:10.35pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=17% style="height:10.35pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">April
  </font><font face=arial,sans-serif style="font-size:8.0pt;">17, </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">2008&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="height:10.35pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=43% style="height:10.35pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Technical
  Service Agreement (TSA) for c</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">ombined 2G and 3G CS Core Network</font></p>
  </td>
 <td valign=top width=1% style="height:10.35pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;text-decoration:none;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=38% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Telkomsel,
  PT Ericsson Indonesia, Ericsson AB, PT Nokia Siemens Networks, </font><font face=arial,sans-serif style="font-size:8.0pt;">NSN&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;"> Oy, Huawei
  International Pte. Ltd., PT Huawei and PT ZTE Indonesia</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">March
  and</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">
  Jun</font><font face=arial,sans-serif style="font-size:8.0pt;">e </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">2009&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">2G
  BSS and 3G UTRAN</font><font face=arial,sans-serif style="font-size:8.0pt;">
  R</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">oll</font><font face=arial,sans-serif style="font-size:8.0pt;">o</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">ut&nbsp;</font><font face=arial,sans-serif style="font-size:8.0pt;"> agreement for the
  provision of </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">2G
  GSM BSS and 3G UMTS</font><font face=arial,sans-serif style="font-size:8.0pt;">
  Radio Access Network</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=38% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Telkomsel,
  PT Packet Systems Indonesia and PT Huawei</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">February
  3, 2010</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Maintenance
  and procurement of equipment and related service agreement for Next
  Generation Convergence IP RAN Rollout and Technical Support</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=38% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Telkomsel,
  PT </font><font face=arial,sans-serif style="font-size:8.0pt;">Dimension
  Data</font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">
  Indonesia and
  PT
  Huawei</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">February
  3, 2010</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Maintenance
  and procurement of equipment and related service agreement for Next
  Generation Convergence Core Transport Rollout and Technical Support</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=38% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Telkomsel,
  Amdocs Software Solutions Limited Liability Company and PT Application
  Solutions</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=17% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">February
  8, 2010</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=43% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">Online
  Charging System (&#8220;OCS&#8221;) and Service Control Points (&#8220;SCP&#8221;) System Solution
  Development agreement</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=38% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Telkomsel
  and PT Application Solutions</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">February
  8, 2010</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Technical
  Support Agreement to provide technical support services for the OCS and SCP</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=38% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Telkomsel,
  Amdocs Software Solutions Limited Liability Company and PT Application
  Solutions</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=17% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">July
  5, 2011</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=43% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Development
  and Rollout agreement for Customer Relationship Management and Contact Center
  Solutions</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=top width=38% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Telkomsel
  and </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">PT
  Huawei</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">March
  25, 2013</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Technical
  Support Agreement for the procurement of Gateway GPRS Support Node (&#8220;GGSN&#8221;)
  Service Complex</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=38% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=SV style="font-size:8.0pt;">Telkomsel
  and Wipro Limited, Wipro Singapore Pte. Ltd. and PT WT Indonesia</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">April
  23, 2013</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Development
  and procurement of OSDSS Solution agreement</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=38% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Telkomsel
  and </font><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">PT
  Ericsson Indonesia</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">October
  22, 2013</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Procurement
  of GGSN Service Complex Rollout agreement</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:-.25in;"><i><font face=arial,sans-serif lang=IN style="font-size:12.0pt;">&nbsp;</font></i></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_281"></a><a name="_bclPageBorder281"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader281"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; SIGNIFICANT
COMMITMENTS AND AGREEMENTS</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin-bottom:0in;margin-left:38.25pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.</font></b><b><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp; </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Borrowings and other
credit facilities&#160;&#160; </font></b></p>

<p style="background:white;margin-bottom:0in;margin-left:38.25pt;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin-bottom:0in;margin-left:58.5pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-22.5pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(i)</font><font face="times new roman" lang=X-NONE style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">As of </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">December 31, 2015</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">, the Company has bank guarantee facilities for tender
bond, performance bond, maintenance bond, deposit guarantee and advance payment
bond for various projects of the Company, as follows:</font></p>

<p style="background:white;margin-bottom:0in;margin-left:72.75pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:58.5pt;width:92.1%;">
 <tr>
  <td valign=bottom width=38% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=23% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Facility utilized</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=38% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Lenders</font></b></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Total facility</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Maturity</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Currency</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Original currency</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Rupiah equivalent</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=38% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">BRI</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">350</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">March 14, 2016</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">79</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=38% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=38% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">BNI</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">250</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">March 31, 2016</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">58</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=38% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">1</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=38% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">Bank
  Mandiri</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">300</font></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">December 23, 2016</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:7.0pt;">Rp</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">225</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=38% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">US$</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">0</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=38% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">90</font></b><b><font face=arial,sans-serif style="font-size:7.0pt;">0&nbsp;</font></b></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">364</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:60.75pt;text-align:justify;text-indent:-24.75pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160; Telkomsel has US$3 million bond and
bank guarantee</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
and</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
standby letter of credit facilit</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">ies&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> with SCB, Jakarta. The facilities expire on
July 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. Under these
facilities, as of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December 31, 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, Telkomsel has issued a bank guarantee of Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">20&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion (equivalent
to US$</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1.4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> million) for a 3G
performance bond (Note </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">36</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">c.i).
The bank guarantee </font><font face=arial,sans-serif lang=EN-GB style="font-size:10.0pt;">is valid</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> until </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">March 24, 2016</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:60.75pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:60.75pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Telkomsel
has a Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">00 billion bank
guarantee facility with BRI. The facility will expire on </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">March 25</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. Under this
facility, as of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December
31, 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">,
Telkomsel has issued a bank guarantee of Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">317&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion (equivalent
to US</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">$22
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">million)
as </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">payment
commitment guarantee for annual right of usage fee valid until March 31, 2016
and </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">20&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion (equivalent
to US</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">$1.4
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">million)&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> for a 3G
performance guarantee.</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:60.75pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:60.75pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Telkomsel has a Rp150 billion bank guarantee </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">facility </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">with BCA. The
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">facility
will expire on</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
April 15, 2016.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:60.75pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:60.75pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Telkomsel
has also a Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">100&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion bank
guarantee facility with BNI. The facility will expire on </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December 11, 2016</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. Telkomsel uses this
facility to replace the time deposit required as guaranty for the USO program
amounting to Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">53&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (Note 26)</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:60.75pt;text-align:justify;text-indent:-24.75pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(iii)&#160;&#160;&#160; TII has a US$</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">15&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> million bank
guarantee from Bank Mandiri. The facility expires on </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December 18, 2016</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> The </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">outstanding bank
guarantee facility as of</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> December 31, 2015 amount</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ed&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> to US$11
million</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:60.75pt;text-align:justify;text-indent:-24.75pt;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">c. Others</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:49.5pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(i)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3G
license</font></u></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:81.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">With
reference to the Decision Letters No. 07/PER/M.KOMINFO/2/2006, No.
268/KEP/M.KOMINFO/9/2009 and No. 191 year 2013 of the MoCI, Telkomsel is
required, among other things, to:</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Pay
an annual BHP fee which is calculated based on a certain formula over the
license term (10&nbsp;years) as set forth in the Decision Letters. The BHP is
payable upon receipt of the notification letter (&#8220;Surat Pemberitahuan
Pembayaran&#8221;) from the DGPI. The BHP fee is payable annually up to the expiry
date of the license</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Provide
roaming access for the existing other 3G operators</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;text-align:justify;text-indent:-14.2pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">36</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; SIGNIFICANT COMMITMENTS AND AGREEMENTS (continued)</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:38.25pt;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">c.</font></b><b><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Others&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:54.45pt;text-align:justify;text-indent:-18.45pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(i)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3G
license (continued)</font></u></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">With
reference to the Decision Letters No. 07/PER/M.KOMINFO/2/2006, No.
268/KEP/M.KOMINFO/9/2009 and No. 191 year 2013 of the MoCI, Telkomsel is
required, among other things, to</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">:&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Contribute
to USO development</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">4.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Construct
a 3G network which covers at least 14 provinces by the sixth year of holding
the 3G license</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">5.&#160;&#160; Issue a performance bond each year
amounting to Rp20 billion or 5% of the annual fee to be paid for the subsequent
year, whichever is higher. </font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><b><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(ii)&#160;&#160; </font><u><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Radio Frequency Usage </font></u></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Based
on the Decree No. 76 dated December 15, 2010 of the Government of the Republic
of Indonesia, which amended Decree No. 7 dated January 16, 2009, the annual
frequency usage fees for bandwidths of 800 MHz, 900 MHz and 1800 MHz are
determined using a formula set forth in </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">the </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Decree. The Decree is applicable for 5
years unless further amended.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">As
an implementation of the above Decree, the Company and Telkomsel paid the first</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, second, third
and forth </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">year
annual frequency usage fees in 2010</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, 2011, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2 and 2013</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, respectively.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">In order to maximize its
business opportunities from the group synergy, the Company restructured its
fixed wireless business unit by terminating the respective fixed wireless
telecommunication network services and transferring the fixed wireless business
and subscribers to Telkomsel. On June 27, 2014, the Company signed a
Conditional Business Transfer Agreement with Telkomsel to transfer such
business and subscribers to Telkomsel (Notes </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">11</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">b, and 3</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">). Telkomsel has paid
through an escrow account amounting to Rp2,121 billion for this restructuring
business and presented as Other Current Financial Assets (Note </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">). As the </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">date of approval and authorization for the issuance</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
of the consolidated financial statements, the restructuring business is still
in process</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">T</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">he Company recorded a
restructuring provision of Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">208&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> as of December 31,
2014</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.
The provision relates to the benefits provided in &#8220;Upgrade Telkomflexi&#8221; program
that was introduced to encourage Telkom Flexi subscribers to migrate to
Telkomsel services. The program was announced to public on October 3, 2014. </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As the </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">date of
approval and authorization for the issuance</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> of the consolidated
financial statements, the migration of customers had been accomplished and all
the services rendered has been ceased.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:54.6pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:54.6pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Based on Decision Letter No. 934 dated September 26,
2014, the MoCI approved t</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">he
transfer of the Company&#8217;s frequency</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> usage license </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">on radio frequency spectrum of 800
MHz, specifically on spectrum of 880-887.5 MHz paired with 925-932.5 MHz, to
Telkomsel, Telkomsel can use the radio frequency spectrum </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">from the time</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> the decision letter
was issued.</font><font face=arial,sans-serif lang=EN-US style="font-size:3.0pt;">
&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:54.6pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:54.6pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">During the trans</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ition&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> p</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">eriod</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">, the Company </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">is </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">still able to
use the radio frequency </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">spectrum
of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">880-887.5&#160;
MHz </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">paired&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> with
925-932.5 MHz until December 14, 2015.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:54.6pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Based
on Decision Letter No. 940 dated September 26, 2014, MoCI determined that the
fifth year (Y5), 2014, annual frequency usage fee of Telkomsel was Rp2,198
billion. The fee includes </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">annual </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">frequency usage fee transfe</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">r</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">red from Company to
Telkomsel and </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">was&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> paid in December
2014</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face=arial,sans-serif lang=IN style="font-size:6.0pt;">&nbsp;</font></p>




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<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.9pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. SIGNIFICANT
COMMITMENTS AND AGREEMENTS</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.7pt;text-align:justify;text-indent:-17.85pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">c.&#160;&#160; Others</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;text-indent:-.3in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(ii)&#160;&#160; </font><u><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Radio Frequency Usage </font></u><u><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(continued)&nbsp;</font></u></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-GB style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Based
on Decision letter No. 983 issued in 2015, the M</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">o</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">CI determined that
the sixth year (Y6) 2015 annual frequency usage fee of Telkomsel was Rp 2,398
billion. The fee was paid in December 2015.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:53.9pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">On July 6, 2015,
Telkomsel received Decision Letter No. 644 Year 2015 dated
June 30, 2015, of the MoCI, which replaced Decision Letter No.42 Year 2014
dated January 29, 2014, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">whereby
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">the
MoCI granted Telkomsel the rights to provide:</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:71.9pt;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(i)</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Mobile
telecommunication services with radio frequency bandwidth in the 800 MHz, 900
MHz and 1800 MHz bands;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:71.9pt;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(ii)</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Mobile telecommunication
services IMT-2000 with radio frequency bandwidth in the 2.1 GHz bands (3G); and</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:71.9pt;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(iii)</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp; </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Basic
telecommunication services.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><b><font face=arial,sans-serif lang=EN-GB style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(iii</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">)&#160; </font><u><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Operating </font></u><u><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">l</font></u><u><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ease commitments</font></u></p>

<p style="background:white;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=IN style="font-size:4.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group entered
into non-cancelable lease agreements with both third and related parties. The
lease agreements cover leased lines, telecommunication equipment and land and
building with terms ranging from 1 to 10 years and with expiry dates between 20</font><font face=arial,sans-serif lang=EN-GB style="font-size:10.0pt;">1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 20</font><font face=arial,sans-serif lang=EN-GB style="font-size:10.0pt;">2</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Periods may be extended
based on the agreement by both parties.</font></p>

<p style="background:white;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Minimum lease payments charged to profit
or loss in 2015 amounted to Rp3,847 billion. Future minimum lease
payments/receivables under non-cancelable operating lease agreements as of </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">December 31, 2015</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> are as follows:</font></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.72%;">
 <tr>
  <td valign=bottom width=30% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">Less than 1 year</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">1-5 years</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">More than 5 years</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=30% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">As lessee</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">42,464</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">4,948</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">19,230</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">18,286</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=30% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">As lessor</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">2,485</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">774</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">1,711</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
future minimum lease payments/receivables include payments from non-lease
elements in the arrangement.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">In
connection with the restructuring of its fixed wireless business unit (Note
36c.ii), the Company </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">is
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">undertak</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ing&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> a
negotiation to early terminate its operating lease agreements, and has recorded
provisions for early termination amount</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ing to </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Rp666 billion which is presented as
&#8220;Other </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">E</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">xpense&#8221;. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Company expects
to complete the negotiation for early termination and make the related
settlements in 2016. </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">The future minimum lease payments above include </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">those related to </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">lease
agreements with telecommunication tower providers which were used for </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">fixed
wireless business unit.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">3</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">7</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; CONTINGENCIES</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">In the ordinary
course of business, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">t</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">he
Group ha</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> been named as
defendant in various legal actions in relation </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">with&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> land disputes,
monopolistic practice and unfair business competition and SMS cartel practices.
Based on management's estimate of the probable outcomes of these matters, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">t</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">he Group ha</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> recognized provision
for losses amounting to Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">25&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion as of </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December 31, 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.2in;"><font face=arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">The
Company, Telkomsel and seven other local operators are being investigated by
The Commission for the Supervision of Business Competition (&#8220;</font><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Komisi
Pengawasan Persaingan Usaha</font></i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221; or &#8220;KPPU&#8221;) for allegations of SMS cartel
practices. As a result of the investigations on June 17, 2008, KPPU found that
the Company, Telkomsel and certain other local operators had violated Law No. 5
year 1999 article 5 and charged the Company and Telkomsel in the amounts of
Rp18 billion and Rp25 billion, respectively.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:34.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Management believes
that there are no such cartel practices that led to a breach of prevailing
regulations. Accordingly, the Company and Telkomsel filed an appeal with the
Bandung District Court and South Jakarta District Court on July 14, 2008 and
July 11, 2008, respectively. </font></p>

<p style="margin-bottom:0in;margin-left:34.65pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:34.65pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Due to
the filing of the case by operators in various courts, the KPPU subsequently
requested the Supreme Court (SC) to consolidate the cases into the Central
Jakarta District Court. Based on the SC&#8217;s decision letter dated April&nbsp;12,
2011, the SC </font><font face=arial,sans-serif lang=X-NONE style="background:white;font-size:10.0pt;">appointed the </font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Central
Jakarta District Court </font><font face=arial,sans-serif lang=X-NONE style="background:white;font-size:10.0pt;">to investigate and
resolve the case.</font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">On May 27, 2015</font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">, the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Central
Jakarta District Court decided </font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">on the case in favor of</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> the Company,
Telkomsel and seven other local operators upon the case. </font></p>

<p style="margin-bottom:0in;margin-left:34.65pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:34.65pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">On July
23, 2015, KPPU filed an appeal to the SC regarding the case of SMS cartel
practices. On February 29, 2016, the SC decided on the case in favor of KPPU.
As of the </font><font color=black face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">date of approval and authorization for the
issuance</font><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> of the consolidated financial statements, the Company is considering
to request for a judicial review of the case by the SC.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:34.2pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-13.05pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;layout-grid-mode:char;">&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">The Company is a
defendant in a case filed in Makassar District Court by Andi Jindar Pakki and
his affiliates over a land property
at Jl. A.P. Pettarani.
On May 8, 2013, the court pronounced its verdict and ordered the Company to pay
fair compensation or to vacate and surrender the disputed land to the
plaintiffs. </font></p>

<p style="margin-bottom:0in;margin-left:34.65pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:34.65pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=arial,sans-serif lang=X-NONE style="font-size:10.0pt;">On May
20, 2013, the Company filed an appeal to the Makassar High Court, objecting to
the District Court&#8217;s ruling. In December 2013, the Makassar High Court
pronounced its verdict that was favorable to the plaintiffs and the Company
filed an appeal to the SC. </font></p>

<p style="margin-bottom:.0001pt;margin-left:34.65pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:34.65pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">On January 9, 2015,
the Company received the SC Notice </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;layout-grid-mode:char;">No. 226/Pdt.G/2012/PN.Mks. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">regarding the case
which rejected the Company&#8217;s appeal. On February 5, 2015, the Company requested
for a judicial review of the case by the SC.</font></p>

<p style="margin-bottom:.0001pt;margin-left:34.65pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:34.65pt;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">On December 16, 2015,
through its letter No. 336 PK/Pdt/2015, the SC decided on the case in favor of
the Company.</font></p>

<p style="margin-bottom:.0001pt;margin-left:37.15pt;margin-right:0in;margin-top:0in;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">38</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; FINANCIAL RISK
MANAGEMENT </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">1</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">.&#160;&#160; </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">F</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">inancial assets and </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">financial
</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">liabilities&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">.&#160;&#160;
Classification</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:3.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:71.9pt;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">i.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Financial assets</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:71.9pt;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:1.0in;width:90.28%;">
 <tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Financial assets at fair value through profit or loss</font></b></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:8.0pt;">Derivative asset - put option</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:8.0pt;">290</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:8.0pt;">172</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Loans and receivables</font></b></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Cash and cash equivalents</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">17,</font><font face=Arial,sans-serif style="font-size:8.0pt;">67</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">2&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">28,117</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Trade and other receivables</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">7,380</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">7,872</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Other current financial assets</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">2,253</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">2,48</font><font face=Arial,sans-serif style="font-size:8.0pt;">6&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Other non-current assets</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">546</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">379</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Available-for-sale financial assets</font></b></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:8.0pt;">Available-for-sale investments</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:8.0pt;">254</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif style="font-size:8.0pt;">160</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">Total </font></b><b><font face=Arial,sans-serif style="font-size:8.0pt;">financial
  assets</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">28,395</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">39,186</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;"><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:71.9pt;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ii.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Financial liabilities</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:71.9pt;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:1.0in;width:90.28%;">
 <tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:8.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:8.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Financial liabilities measured at
  amortized cost</font></b></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Trade and other payables</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">12,476</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">14,284</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Accrued expenses</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">5,211</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">8,247</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:8.0pt;">Interest-bearing loans and other borrowings</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Short-term bank
  loans</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1,810</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">602</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Two-step loans</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1,615</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">1,520</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Bond and notes</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">3,308</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">9,548</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Long-term bank loans</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">11,930</font></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">18,362</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;"><font face=arial,sans-serif style="font-size:8.0pt;">Obligations under
  finance leases</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">4,789</font></p>
  </td>
 <td valign=bottom width=2% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">4,580</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=60% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:8.0pt;">Total financial liabilities</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">41,139</font></b></p>
  </td>
 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=19% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:8.0pt;">57,143</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:.2pt;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Fair values</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.72%;">
 <tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=5 valign=bottom width=40% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Fair value
  measurement at reporting date using</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">2014</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Carrying value</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Fair value</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Quoted prices in
  active markets for identical assets or liabilities (level 1)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Significant other
  observable inputs </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">(level 2)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Significant
  unobservable inputs (level 3)</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Financial
  assets measured at fair value</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">Available-for-sale
  investments</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">254</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">254</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">52</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">202</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">Fair
  value through profit or loss</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">290</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">290</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">290</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">544</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">544</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">52</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">202</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">290</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Financial
  liabilities for which fair value are disclosed</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><sup><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:7.0pt;">Interest-bearing
  loans and other borrowings</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.4in;text-indent:-.1in;"><font face=arial,sans-serif style="font-size:7.0pt;">Two-step
  loans</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">1,615</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">1,650</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">1,650</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.4in;text-indent:-.1in;"><font face=arial,sans-serif style="font-size:7.0pt;">Bond and
  notes</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">3,308</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">3,355</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">3,047</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">308</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.4in;text-indent:-.1in;"><font face=arial,sans-serif style="font-size:7.0pt;">Long-term
  bank loans</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">11,930</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">11,787</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">11,787</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.4in;text-indent:-.1in;"><font face=arial,sans-serif style="font-size:7.0pt;">Obligations
  under finance leases</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">4,789</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">4,789</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:7.0pt;">4,789</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:7.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">21,642</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">21,581</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">3,047</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">-</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:7.0pt;">18,534</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="background:white;margin-bottom:0in;margin-left:27.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-9.0pt;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></b></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_286"></a><a name="_bclPageBorder286"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">38</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; FINANCIAL RISK
MANAGEMENT (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">1</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">.&#160;&#160; </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">F</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">inancial assets and </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">financial
</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">liabilities&nbsp;</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> (continued)</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&nbsp;&nbsp;&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">Fair values
(continued)</font></p>

<p style="margin-bottom:.0001pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.72%;">
 <tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=5 valign=bottom width=40% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Fair value measurement at
  reporting date using</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Carrying value</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Fair value</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Quoted prices in active
  markets for identical assets or liabilities (level 1)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Significant other
  observable inputs (level 2)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Significant unobservable
  inputs (level 3)</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Financial assets
  measured at fair value</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Available-for-sale
  investments</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">160</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">160</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">55</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">105</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Fair value through profit
  or loss</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">172</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">172</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">172</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">332</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">332</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">55</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">105</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:double windowtext 2pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">172</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Financial liabilities
  for which fair value are disclosed</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><sup><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Interest-bearing loans and
  other borrowings</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=DE style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.4in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.1in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Two-step loans</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1,520</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1,538</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">1,538</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.4in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.1in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Bond and notes</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">9,548</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">9,541</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">8,972</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">569</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.4in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.1in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Long-term bank loans</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">18,362</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">18,314</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">18,314</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.4in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.1in;"><font face=Arial,sans-serif style="font-size:7.0pt;">Obligations under finance
  leases</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">4,580</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">4,580</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">4,580</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=33% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">Total</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">34,010</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">33,973</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">8,972</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">-</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=14% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.0pt;">25,001</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Available-for-sale financial
assets primarily consist of mutual funds, and Corporate and Government bonds.
Mutual funds actively traded in an established market are stated at fair value
using quoted market price and classified within level 1. Corporate and
Government bonds are stated at fair value by reference to prices of similar
securities at the reporting date. As they are not actively traded in an
established market, these securities are classified as level 2. </font></p>

<p style="margin-bottom:0in;margin-left:53.55pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-17.85pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Financial asset at fair value through
profit or loss represents the Put Option on the 20% remaining ownership in
Indonusa which was received as part of the divestment considerations. The
valuation of put option requires significant management judgment due to the
absence of quoted market prices and the lack of comparable instruments in the
market. As the put option is subject to restrictions on redemption (such as
transfer restrictions and initial lock-up periods) and observable activity for
the investment is limited, this investment is therefore classified within level
3 of the fair value hierarchy. </font></p>

<p style="margin-bottom:0in;margin-left:53.55pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-17.85pt;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Reconciliations
of the beginning and ending balances for items measured at fair value using
significant unobservable inputs (level 3) as of December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> are as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.72%;">
 <tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Beginning balance</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">297</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">290</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:10.0pt;">Unrealized loss recognized
  </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">in the consolidated
  statements of</font><font face=Arial,sans-serif style="font-size:10.0pt;"> profit or loss and other
  comprehensive income</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">7&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=20% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(118</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=59% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Ending balance</font></b></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">290</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=20% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">172</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><a href="#TOC"><u><font color=blue face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Table of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">38</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; FINANCIAL RISK
MANAGEMENT</font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
</font><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.85pt;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">1</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">.&#160;&#160; </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">F</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">inancial assets and </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">financial
</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">liabilities </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(continued)&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">c.&#160;&#160; Fair
value measurement</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;text-indent:.55pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Fair
value is the amount for which an asset could be exchanged, or liability
settled, between parties in an arm&#8217;s length transaction.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:18.55pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group
determined the fair value measurement for disclosure purposes of each class of
financial assets and financial liabilities based on the following methods and
assumptions:</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:1.0in;margin-right:0pt;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(i)</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
fair values of short-term financial assets and financial liabilities with
maturities of one year or less (cash and cash equivalents, trade and other
receivables, other current financial assets, trade and other payables, accrued
expenses, and short-term bank loans) and other non-current assets are
considered to </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">approximate
their carrying amount</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">as
the impact of discounting is not significant</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;margin-right:0pt;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(ii)</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">t</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">he fair
values of long-term financial assets and financial liabilities (other
non-current assets </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(long-term
trade receivables and restricted cash) </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">and liabilities) approximate their
carrying amounts as they were measured based on the discounted future
contractual cash flows</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:1.0in;margin-right:0pt;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(iii)</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">a</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">vailable-for-sale
financial assets primarily consist of mutual funds, Corporate and Government
bonds. Mutual funds actively traded in an established market are stated at fair
value using quoted market price or, if unquoted, determined using a valuation
technique. Corporate and Government bonds are stated at fair value by reference
to prices of similar securities at the reporting date</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">;&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;margin-right:0pt;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(iv)</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">t</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">he fair
values of long-term </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">financial
</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">liabilities
are estimated by discounting the future contractual cash flows of each
liability at rates offered to the Group for similar </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">liabilities&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> of
comparable maturities by the bankers of the Group, except for bonds which are
based on market prices.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;margin-right:0pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The fair
value estimates are inherently judgmental and involve various limitations,
including:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:71.1pt;text-align:justify;text-indent:-16.65pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">a.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp; &nbsp;</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;fair values presented do not
take into consideration the effect of future currency fluctuations.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:71.1pt;text-align:justify;text-indent:-16.65pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">b.</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp; &nbsp;</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;estimated fair values are
not necessarily indicative of the amounts that the Group would record upon
disposal/termination of the financial assets and liabilities.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:71.1pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2.</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Financial risk management</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:34.65pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#8217;s&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> activities expose </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">it&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> to a variety of
financial risks such as market risks (including foreign exchange risk, market
price risk and interest rate risk), credit risk and liquidity risk. Overall, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">t</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">he Group&#8217;s financial
risk management program is intended to minimize losses on the financial assets
and financial liabilities arising from fluctuation of foreign currency exchange
rates and the fluctuation of interest rates. Management has a written policy on
foreign currency risk management mainly on time deposit placements and hedging
to cover foreign currency risk exposures for periods ranging from 3 up to 12
months.</font></p>

<p style="margin-bottom:0in;margin-left:34.65pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:34.65pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Financial risk management is carried out by </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">t</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">he </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Corporate Finance</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> unit under policies approved by the Board of
Directors. The </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">Corporate
Finance unit</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> identifies,
evaluates and hedges financial risks.</font></p>

<p style="margin-bottom:0in;margin-left:34.65pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a.&#160;&#160;&#160;
Foreign exchange risk</font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.8pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">The Group is exposed
to foreign exchange risk on sales, purchases and borrowings that are
denominated in foreign currencies. The foreign currency denominated
transactions are primarily in U.S. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">dollar&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> and Japanese </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">y</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">en. The Group</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8217;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s exposure</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> to other
foreign exchange rates are not material.</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">38</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; FINANCIAL RISK
MANAGEMENT</font></b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
</font><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.85pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=left style="margin-bottom:0in;margin-left:35.55pt;margin-right:0in;margin-top:0in;text-align:left;text-indent:-17.55pt;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2.</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Financial risk management </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(continued)&nbsp;</font></p>

<p align=left style="margin-bottom:0in;margin-left:55.8pt;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p align=left style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a.&#160;&#160;&#160; Foreign exchange risk</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> (continued)</font></p>

<p align=left style="margin-bottom:0in;margin-left:55.8pt;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p align=left style="margin-bottom:0in;margin-left:55.8pt;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Increasing risks of
foreign currency exchange rates on the obligations of the Group are expected to
be </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">partly </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">offset by</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> the effects of the exchange rates on</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> time deposits and receivables in foreign
currencies that are equal to at least 25% of the outstanding </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">current foreign currency </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">liabilities.&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.8pt;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align=left style="margin-bottom:.0001pt;margin-left:55.8pt;margin-right:.8pt;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">The following</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> table </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">presents the Group</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&#8217;s&nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">
financial assets and </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">financial
</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">liabilities </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">exposure to foreign currency risk:</font></p>

<p align=left style="margin-bottom:.0001pt;margin-left:55.8pt;margin-right:.8pt;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:92.72%;">
 <tr>
  <td valign=bottom width=26% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=36% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=37% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=26% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">U.S. dollar</font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Japanese yen </font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">U.S. dollar</font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Japanese yen </font></b></p>
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">(in millions)</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=26% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.05in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.05in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Financial assets</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">4</font><font face=Arial,sans-serif style="font-size:8.0pt;">71&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">8</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">63</font><font face=Arial,sans-serif style="font-size:8.0pt;">5&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">1</font><font face=Arial,sans-serif style="font-size:8.0pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=26% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.05in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.05in;"><font face=Arial,sans-serif style="font-size:8.0pt;">Financial liabilities</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">(512</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">)</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">(7,725</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">)</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">(46</font><font face=Arial,sans-serif style="font-size:8.0pt;">1&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">)</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">(6</font><font face=Arial,sans-serif style="font-size:8.0pt;">,</font><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">9</font><font face=Arial,sans-serif style="font-size:8.0pt;">47&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=26% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.05in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.05in;"><b><font face=Arial,sans-serif style="font-size:8.0pt;">Net exposure</font></b></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">(</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">4</font></b><b><font face=Arial,sans-serif style="font-size:8.0pt;">1&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">(7,717</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">)</font></b></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">17</font></b><b><font face=Arial,sans-serif style="font-size:8.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">(6</font></b><b><font face=Arial,sans-serif style="font-size:8.0pt;">,</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">9</font></b><b><font face=Arial,sans-serif style="font-size:8.0pt;">36&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:8.0pt;">)</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:53.85pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:53.85pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Sensitivity
analysis</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">A
strengthening of the </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">U</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.S.
dollar and</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
Japanese </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">y</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">en</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, as indicated below,
against the rupiah at </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">December 31, 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> would have (decreased)/increased equity and
profit or loss by the amounts shown below. This analysis is based on foreign
currency exchange rate variances that </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">t</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">he Group considered to be reasonably possible
at the reporting date. The analysis assumes that all other variables, in
particular interest rates, remain constant. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:58.5pt;width:92.12%;">
 <tr>
  <td valign=bottom width=62% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=37% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">Equity/profit (loss)</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=62% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:9.0pt;">December 31, 201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=62% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">U.S. dollar (1% strengthening)</font></p>
  </td>
 <td valign=bottom width=37% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">23</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=62% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:9.0pt;">Japanese yen (5% strengthening)</font></p>
  </td>
 <td valign=bottom width=37% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">(40</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:55.0pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">A
weakening of the </font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">U</font><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">.S. d</font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">ollar&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;"> and</font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;"> Japanese </font><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">y</font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">en&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;"> against the rupiah at
</font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">December
31, 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">
would have had an equal but opposite effect on the above currencies at the
amounts shown above, on the basis that all other variables remain constant.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:58.5pt;text-align:justify;text-indent:-.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:54.6pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-18.2pt;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">b.&#160;&#160; Market price risk</font></p>

<p style="margin-bottom:0in;margin-left:54.6pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-18.2pt;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:54.6pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-18.2pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">The Group is
exposed to cha</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">n</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">ges in debt and equity market prices related
to available-for-sale investments carried at fair value. Gain and losses
arising from changes in the fair value of available-for-sale investments are
recognized in equity.</font></p>

<p style="margin-bottom:0in;margin-left:54.6pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-18.2pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:54.6pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-18.2pt;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; The performance of the Group</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&#8217;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">s available-for-sale investments </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">is&nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">
monitored periodically, together with a regular asses</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">s</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">ment of
their relevance to the Group</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&#8217;s&nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> long</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">-</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">term
strategic plans.</font></p>

<p style="margin-bottom:0in;margin-left:54.6pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-18.2pt;"><font face=Arial,sans-serif lang=EN-AU style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:54.6pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-18.2pt;"><font face=Arial,sans-serif lang=EN-AU style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; As of </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">December 31, 2015</font><font face=Arial,sans-serif lang=EN-AU style="font-size:10.0pt;">, management considered the price risk on the </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Group</font><font face=Arial,sans-serif lang=EN-AU style="font-size:10.0pt;">&#8217;s available-for-sale investments to be immaterial in terms of the
possible impact on profit or loss and total equity from a reasonably possible
change in fair value.</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_289"></a><a name="_bclPageBorder289"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">38</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; FINANCIAL RISK
MANAGEMENT </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:37.8pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2.</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Financial risk management (continued)</font></p>

<p style="margin-bottom:0in;margin-left:35.45pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:54.6pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-18.2pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">c</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">.&#160;&#160; Interest rate risk</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Interest
rate fluctuation is monitored to minimize any negative impact to financial
performance. Borrowings at variable interest rates expose the Group to interest
rate risk (Notes </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">1</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">7 and 18). To
measure market risk </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">pertaining
to </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">fluctuations
in interest rates, the Group primarily use</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> interest margin and
maturity profile of the financial assets and liabilities based on changing
schedule of the interest rate.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">At reporting date, the interest rate
profile of the Group&#8217;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> interest-bearing borrowings was as
follows:</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:94.2%;">
 <tr>
  <td valign=top width=44% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=27% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><i><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></i></p>
  </td>
 <td valign=bottom width=27% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">Fixed rate borrowings</font></p>
  </td>
 <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(10,113</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(16,687</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">Variable rate borrowings</font></p>
  </td>
 <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(13,339</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">(17,925</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">)</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.85pt;text-align:justify;"><i><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.85pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Sensitivity
analysis for variable rate borrowings</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.85pt;text-align:justify;"><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.85pt;margin-right:.8pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">A</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s of December 31,
2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">, a
decrease (increase) by </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">25&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
basis points in interest rates of variable rate borrowings would have increased
(decreased) equity and profit or loss by Rp</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">45&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> billion</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">,
respectively</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.
This analysis assumes that all other variables, in particular foreign currency
rates, remain constant.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;text-indent:-21.25pt;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">d.&#160;&#160; Credit risk</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">The
following
table presents </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">the maximum exposure
to credit risk of the Group&#8217;s financial assets:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:94.2%;">
 <tr>
  <td valign=bottom width=44% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=27% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=27% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">Cash and cash equivalents</font></p>
  </td>
 <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">17,67</font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">2&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">28,117</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:9.0pt;">Other current </font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">financial </font><font face=arial,sans-serif style="font-size:9.0pt;">assets&nbsp;</font></p>
  </td>
 <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:9.0pt;">2,797</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">2,818</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">Trade and other
  receivable</font><font face=arial,sans-serif style="font-size:9.0pt;">s,
  net</font></p>
  </td>
 <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">7,380</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">7,872</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">O</font><font face=arial,sans-serif style="font-size:9.0pt;">ther non-current
  assets</font></p>
  </td>
 <td valign=bottom width=27% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">546</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=27% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">379</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=44% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face=arial,sans-serif style="font-size:9.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=27% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">28,</font></b><b><font face=arial,sans-serif style="font-size:9.0pt;">395&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=27% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">39,186</font></b></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.85pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">The
Group is exposed to credit risk primarily from </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">cash and cash equivalents and </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">trade and
other receivables. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.85pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Credit
risk from balances with banks and financial institutions is managed by the
Group&#8217;s </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Corporate
Finance</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
department in
accordance
with the Group&#8217;s</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
written</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">
policy.</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">
The Group placed the majority of its cash and cash equivalents in state-owned
banks because they have the most extensive branch networks in Indonesia and are
considered to be financially sound banks, as they are owned by the State.
Therefore, it is intended to minimize financial loss through banks and
financial institutions&#8217; potential failure to make payments.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:53.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_290"></a><a name="_bclPageBorder290"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader290"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">38</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; FINANCIAL RISK
MANAGEMENT </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2.</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Financial risk management (continued)</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-align:justify;text-indent:-21.25pt;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">d.&#160;&#160; Credit risk</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (continued)</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=EN-AU style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">The customer c</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">redit risk is managed by continuous monitoring </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">of </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">outstanding balances and collection</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">. </font><font face=Arial,sans-serif lang=EN-AU style="font-size:10.0pt;">Trade
and other receivables do not have any major concentration of risk whereas no
customer </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">r</font><font face=Arial,sans-serif lang=EN-AU style="font-size:10.0pt;">eceivable balances
exceed </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5</font><font face=Arial,sans-serif lang=EN-AU style="font-size:10.0pt;">% of trade receivables as of </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">December 31, 2015</font><font face=Arial,sans-serif lang=EN-AU style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">M</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">anagement is confident in its ability to continue to control and
sustain minimal exposure </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">to
the customer </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">credit
risk given that </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">t</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">he Group ha</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">s recogniz</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">ed sufficient </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">provision for impairment of receivables</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> to cover incurred loss arising from
uncollectible receivables based on existing historical </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">data on credit losses</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">.&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">e</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">.&#160;&#160; Liquidity
risk</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Liquidity risk arises in situations where the Group
has difficulties in fulfilling financial liabilities when they become due. </font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Prudent liquidity risk management implies maintaining
sufficient cash in order to </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">meet t</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">he
Group&#8217;</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">s&nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> financial </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">obligations</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">. The Group
continuously perform</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">s&nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> an analysis to monitor </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">financial position</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> ratios, </font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">such as </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">liquidity ratios</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> and</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;"> debt</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">-to-</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">equity ratios</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">,&nbsp;</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">
against debt covenant requirements.</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:54.6pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The following is the maturity profile of the Group</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&#8217;</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">s
financial liabilities based on contractual undiscounted payments:</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;"> &nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:54.6pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:94.2%;">
 <tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=13 valign=bottom width=80% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">Carrying amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">Contractual cash flows</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">6&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">7&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">8&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">9&nbsp;</font></b><b><font face=Arial,sans-serif style="font-size:7.5pt;">
  and thereafter</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Trade and other payables</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">12,476</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(12,476</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(12,476</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Accrued expenses</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">5,211</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(5,211</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(5,211</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Interest-bearing loans and
  other borrowings</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Two-step loans</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1,615</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(1,944</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(282</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(274</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(264</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(230</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(894</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Bonds and notes</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">3,308</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(4,673</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(1,370</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(251</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(229</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(228</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(2,595</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Bank loans</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">13,740</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(16,468</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(6,830</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(3,172</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(2,552</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(2,099</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(1,815</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Obligations under finance
  leases</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">4,789</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(6,535</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(975</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(927</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(898</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(830</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(2,905</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">41,1</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">39&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">(47,30</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">7&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">(27,14</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">(4,624</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">(3,943</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">(3,387</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(8,209</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:9.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_291"></a><a name="_bclPageBorder291"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader291"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013, 2014
and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">38</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; FINANCIAL RISK
MANAGEMENT </font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2.</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Financial risk management (continued)</font></p>

<p style="margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">e.&#160;&#160; </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">Liquidity risk</font><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;"> (continued)</font></p>

<p style="margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.75in;width:94.2%;">
 <tr>
  <td valign=top width=20% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=13 valign=bottom width=80% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=20% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">Carrying amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">Contractual cash flows</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">6&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">7&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">8&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">201</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">9&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">20</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">20&nbsp;</font></b><b><font face=Arial,sans-serif style="font-size:7.5pt;">
  and thereafter</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Trade and other payables</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">14,284</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(14,284</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(14,284</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Accrued expenses</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">8,247</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(8,247</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(8,247</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">-</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.15in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Interest-bearing loans and
  other borrowings</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Two-step loans</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1,520</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(1,791</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(293</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(282</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(247</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(219</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(750</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Bonds and notes</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">9,548</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">20,919&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1,032&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1,012&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1,008&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">1,226&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">(</font><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">16,641&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Bank loans</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">18,964</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(23,760</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(5,182</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(4,339</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(8,780</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(2,037</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(3,422</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:.3in;margin-right:0in;margin-top:0in;text-align:left;text-indent:-.15in;"><font face=Arial,sans-serif style="font-size:7.5pt;">Obligations under finance
  leases</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">4,580</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(6,069</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=11% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(1,027</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(991</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(888</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=10% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(800</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 <td valign=bottom width=12% style="background:#c6d9f1;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(2,363</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=20% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">57,143</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><sup><font face=Arial,sans-serif style="font-size:7.5pt;">&nbsp;</font></sup></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">(</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">75,070&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></b></p>
  </td>
 <td valign=bottom width=11% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">(</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">30</font></b><b><font face=Arial,sans-serif style="font-size:7.5pt;">,</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">065&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">(</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">6,624&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">(</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">10,923&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></b></p>
  </td>
 <td valign=bottom width=10% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">(</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">4,282&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif style="font-size:7.5pt;">)</font></b></p>
  </td>
 <td valign=bottom width=12% style="border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:right;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">(23,176</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><b><font face=Arial,sans-serif lang=IN style="font-size:7.5pt;">)</font></b></p>
  </td>
 </tr>
</table></div>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face=Arial,sans-serif lang=IN style="font-size:5.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.15pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">The difference between the carrying amount
and the contractual cash flows is interest value. The interest values of
variable-rate borrowings are determined based on the interest rates effective
as of reporting dates. </font></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:35.85pt;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">&#160;&nbsp;</font></b></p>

<p style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:35.85pt;"><font face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">39</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; CAPITAL MANAGEMENT</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
capital structure of the Group is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:98.06%;">
 <tr>
  <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=37% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">4&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td colspan=3 valign=bottom width=35% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">201</font></b><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">5&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">Portion</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">Amount</font></b></p>
  </td>
 <td valign=bottom width=1% style="border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">Portion</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Short-term
  debts</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">1,810</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">1.9</font><font face=arial,sans-serif style="font-size:9.0pt;">9</font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">602</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">0.55%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Long-term
  debts</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">21,642</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">23.76%</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">34,010</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">31.05%</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Total
  debts</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">23,452</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">25.75%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">34,612</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">31.60%</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:9.0pt;">Equity
  attributable to owners of the parent company</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">67,646</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">74.2</font><font face=arial,sans-serif style="font-size:9.0pt;">5</font><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">%&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">74,934</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">68.40%</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=27% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">Total</font></b></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">91,098</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=18% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><b><font face=arial,sans-serif style="font-size:9.0pt;">100.00%</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">109,546</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:right;text-indent:-.15in;"><b><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">100%</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-align:center;text-indent:-.15in;"><font face=arial,sans-serif lang=IN style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Group&#8217;s
objectives when managing capital are to safeguard the Group&#8217;s ability to
continue as a going concern in order to provide returns for stockholders and
benefits to other stakeholders and to maintain an optimum capital structure to
minimize the cost of capital.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Periodically, the
Group conducts debt valuation to assess possibilities of refinancing existing
debts with new ones which have more efficient cost that will lead to more
optimized cost-of-debt. In case of idle cash with limited investment
opportunities, the Group will consider buying back its shares of stock or
paying dividend to its stockholders. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">In addition to
complying with loan covenants, the Group also maintains its capital structure
at the level it believes will not risk its credit rating and </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">which </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">is comparable with </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">that of </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">its competitors. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_292"></a><a name="_bclPageBorder292"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader292"></a><DIV>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">39</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; CAPITAL MANAGEMENT
</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">(continued)&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Debt</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">to</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">equity ratio
(comparing net interest-bearing debt to total equity) is a ratio which is
monitored by management to evaluate the Group&#8217;s capital structure and review
the effectiveness of the Group&#8217;s debts. The Group monitors its debt levels to
ensure the debt</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">to</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">-</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">equity ratio complies
with or is below the ratio set out in its contractual borrowing</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> arrangements and
that such ratio </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">is&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> comparable or better
than th</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">at&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> of regional area
entities in the telecommunications industry. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Group&#8217;s debt-to-equity ratio as of December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> is as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.84%;">
 <tr>
  <td valign=bottom width=57% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Total interest-bearing
  debts</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">23,452</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">34,612</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Less </font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">c</font><font face=Arial,sans-serif style="font-size:10.0pt;">ash
  and cash equivalent</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(17,672</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">)</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">(28,117</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Net debt</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">5,780</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">6,495</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">Total equity
  attributable to owners of the parent company</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">67,646</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=21% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">74,934</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=57% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">Net debt</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">to</font></b><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">-</font></b><b><font face=Arial,sans-serif style="font-size:10.0pt;">equity ratio</font></b></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8.54%</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><b><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=21% style="background:#c6d9f1;border-bottom:double windowtext 2pt;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8.67%</font></b></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><sup><font face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></sup></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><sup><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></sup></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As stated in Note 1</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">8</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">, the Group is required to maintain a certain debt</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">-</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">to</font><font face=Arial,sans-serif lang=IN style="font-size:10.0pt;">-</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">equity ratio and debt service coverage
ratio by the lenders.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">4</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">0</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">. SUPPLEMENTAL CASH
FLOW INFORMATION </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
non-cash investing activities for the years ended December 31, </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2013, </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4 and 2015</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> are as follows:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;margin-left:.25in;width:97.84%;">
 <tr>
  <td valign=top width=48% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2013</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2014</font></b></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2015</font></b></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Acquisition</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif style="font-size:10.0pt;"> of property and
  equipment credited to:</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=48% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Trade
  payables</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">6</font><font face=arial,sans-serif style="font-size:10.0pt;">,</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">412&nbsp;</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5,</font><font face=arial,sans-serif style="font-size:10.0pt;">621&nbsp;</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">4,979</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Obligations
  under finance leases</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">3,201</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">528</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">452</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=48% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.3in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Non-monetary
  exchange</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">268</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">126</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=48% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Acquisition</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif style="font-size:10.0pt;"> of intangible
  assets credited to trade payables</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">119</font></p>
  </td>
 <td valign=bottom width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">179</font></p>
  </td>
 <td valign=top width=1% style="background:#c6d9f1;padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=48% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:.15in;text-indent:-.15in;"><font face=arial,sans-serif style="font-size:10.0pt;">Reclassification
  of property and equipment to assets held for sale</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">105</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=17% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">41</font></p>
  </td>
 <td valign=bottom width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">-</font></p>
  </td>
 <td valign=top width=1% style="padding:0in 0in 0in 0in;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">4</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; SUBSEQUENT EVENTS </font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=IN style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:33.6pt;text-align:justify;text-indent:-12.3pt;vertical-align:baseline;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">a.</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp; </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">On January
14, 2016, Telkom Akses received proceeds of bank loan from BNI amounting to
Rp97 billion.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:33.6pt;text-align:justify;text-indent:-12.3pt;vertical-align:baseline;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">b.</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">On February 15, 2016,
Telkomsel filed an appeal to the Tax Authorities for the 2011 underpayment of
corporate income tax of Rp250 bi</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">l</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">lion (including penalty of Rp81.1 bil</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">l</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">ion). As of the </font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">date of
approval and authorization for the issuance</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> of these consolidated financial statements,
the appeal is still in process (Note 3</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">1g</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.ii).&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:33.6pt;text-align:justify;text-indent:-12.3pt;vertical-align:baseline;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">c.</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">On March 11, 2016,
Infomedia received proceeds of joint borrowing from PT Bank Sumitomo Mitsui
Indonesia and the Bank of Tokyo-Mitsubishi UFJ, Ltd. amounting to Rp195
billion.</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;margin-left:33.6pt;text-align:justify;text-indent:-12.3pt;vertical-align:baseline;"><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">d.</font><font face="times new roman" lang=IN style="font-size:7.0pt;">&nbsp; </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">On March 21, 2016,
Dayamitra received proceeds of bank loan from BRI amounting to Rp600 billion.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">4</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; NEW ACCOUNTING
STANDARDS AND INTERPRETATIONS NOT YET ADOPTED</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
accounting standards and interpretations that are issued, but not yet effective
for the year ended December 31, 201</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">5&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> and which have not been applied in preparing
these consolidated financial statements are disclosed below. The Group intends
to adopt these standards, if applicable, when they become effective.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><u><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Effective
for annual periods beginning on or after January 1, 2016</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:-17.85pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amendment</font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">s&nbsp;</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> to IFRS 11,
Accounting for Acquisitions of Interests in Joint Operations </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">These
amendments provide guidance on the accounting for acquisitions of interests in
joint operations in which the activity constitutes a business. The Group does
not expect that these amendments will have material financial impact in future
financial statements.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.3pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:-17.85pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amendments
to IAS 16 and IAS 38, Clarification of Acceptable Methods of Depreciation and
Amortization</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
amendments to IAS 38, Intangible Assets, introduce a rebuttable presumption
that the use of revenue-based amortization methods for intangible assets is
inappropriate. This presumption can be overcome only when revenue and the
consumption of the economic benefits of the intangible asset are &#8220;highly
correlated&#8221;, or when the intangible asset is expressed as a measure of revenue.
</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
amendments to IAS 16, Property, Plant and Equipment, explicitly state that
revenue-based methods of depreciation cannot be used for property, plant and
equipment. This is because such methods reflect factors other than the
consumption of economic benefits embodied in the asset.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">These
amendments are not expected to impact the Group&#8217;s consolidated financial
position or performance.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:-17.85pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amendments
to IFRS 5, Changes in Methods of Disposal</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRS 5 is
amended to clarify that changes in the method of disposal of an asset or
disposal group are considered a continuation of the original plan of disposal
and the accounting treatment for held-for-distribution or held-for-sale
continues to apply. At the time of the change in method, the carrying amount is
re-measured to recognize any write-down or subsequent increase in the fair
value less costs to sell. If an asset or disposal group no longer meets the
criteria to be classified as held-for-distribution, then it ceases
held-for-distribution accounting in the same way as it would cease
held-for-sale accounting. The Group does not expect that these amendments will
have material financial impact in future financial statements.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:-17.85pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amendments
to IFRS 7, Financial Instruments: Disclosures</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRS 7 is
amended to clarify when servicing arrangements are in the scope of its
disclosure requirements on continuing involvement in transferred financial
assets in cases when they are de-recognized in their entirety. IFRS 7 is also
amended to clarify that the additional disclosures required by Amendments to
IFRS 7, Disclosures: Offsetting Financial Assets and Financial Liabilities are
not specifically required for inclusion in condensed interim financial
statements for all interim periods. However, they are required if the general
requirements of IAS 34, Interim Financial Reporting, require their inclusion.
These amendments are not expected to impact the Group&#8217;s consolidated financial
position or performance.</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>




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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





</DIV>
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">4</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; NEW ACCOUNTING
STANDARDS AND INTERPRETATIONS NOT YET ADOPTED</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><u><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Effective
for annual periods beginning on or after January 1, 2016 (continued)</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></p>

<ul type=disc style="margin-bottom:0in;margin-top:0in;">
 <li style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;">Amendments to IAS 1,
     Disclosure Initiative</font></li>
</ul>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">These
amendments provide additional guidance in conforming with the presentation and
disclosure requirements in IFRS, including clarification of aggregation,
additional requirements for presenting sub-totals, and presentation of other
comprehensive income arising from equity-accounted investments. These
amendments do not affect recognition and measurement and should not result in
the reassessment of the judgments about presentation and disclosure made in
periods prior to the application of these amendments. These amendments are not
expected to have a significant impact to the Group&#8217;s consolidated financial
position or performance.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:-17.85pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amendments
to IAS 19, Discount Rate: Regional Market Issue</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">IAS 19 is
amended to clarify that high-quality corporate bonds or government bonds used
in determining the discount rate should be issued in the same currency in which
the benefits are to be paid. Consequently, the depth of the market for
high-quality corporate bonds should be assessed at the currency level and not
at the country level. These amendments are not expected to impact the Group&#8217;s
consolidated financial position or performance.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:-17.85pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amendments
to IFRS 10, IFRS 12 and IAS 28, Investment Entities: Applying the Consolidation
Exception</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
amendments of IFRS 10 provide clarifications on the application of
consolidation exception for investment entities. An investment entity parent is
required to fair value a subsidiary providing investment-related services that
is itself an investment entity rather than consolidating it. An intermediate
parent owned by an investment entity group can be exempt from preparing
consolidated financial statements. A non-investment entity investor can retain
the fair value accounting applied by its investment entity associate or joint
venture. These amendments are not expected to have an impact to the Group&#8217;s
consolidated financial position or performance. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
following new or amended standards, that will be effective for annual periods
beginning on or after January 1, 2016, are considered to be not applicable to
the Group&#8217;s consolidated financial statements:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:11.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRS
14, Regulatory Deferral Accounts</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:11.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amendments
to IAS 16 and IAS 41, Agriculture: Bearer Plants</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:11.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amendments
to IAS 27, Equity Method in Separate Financial Statements</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><u><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Effective
for annual periods beginning on or after January 1, 2018</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:-17.85pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRS
9, Financial Instruments</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRS 9
includes revised guidance on the classification and measurement of financial
instruments, including a new expected credit loss model for calculating
impairment on financial assets, and the new general hedge accounting
requirements. It also carries forward the guidance on recognition and
derecognition of financial instruments from IAS 39. IFRS 9, published in July
2014, replaces the existing guidance in IAS 39, Financial Instruments:
Recognition and Measurement. IFRS 9 is effective for annual reporting periods
beginning on or after 1 January 2018, with early adoption permitted. The Group
is currently assessing the potential impact of IFRS 9 on its consolidated
financial statements.</font></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>




</div><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_295"></a><a name="_bclPageBorder295"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PERUSAHAAN
PERSEROAN (PERSERO)</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">PT TELEKOMUNIKASI INDONESIA Tbk  AND
SUBSIDIARIES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">As of December 31,</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> 2014 and</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> 2015 and for
the</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">Year</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">s&nbsp;</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> Ended</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> December 31, 2013,
2014 and 2015</font></b></p>

<p align=center style="margin-bottom:0in;margin-left:.25in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.25in;"><b><font face=Arial,sans-serif lang=X-NONE style="font-size:10.0pt;">(Figures in tables are expressed in billions of rupiah, unless otherwise stated)</font></b></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></p>

</div>

<p align=left style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:left;text-indent:0in;"><a href="#TOC2"><u><font color=blue face=Arial,sans-serif lang=X-NONE style="font-size:8.0pt;">Table
of Contents</font></u></a></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">4</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">2</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#160; NEW ACCOUNTING
STANDARDS AND INTERPRETATIONS NOT YET ADOPTED</font></b><b><font face=arial,sans-serif lang=IN style="font-size:10.0pt;"> (continued)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><u><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Effective
for annual periods beginning on or after January 1, 2018 (continued) </font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:-17.85pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRS
15, Revenue from Contracts with Customers</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRS 15
establishes a comprehensive framework for determining whether, how much and
when revenue is recognized. It replaces existing revenue recognition guidance,
including IAS 18, Revenue, IAS 11, Construction Contracts and IFRIC 13,
Customer Loyalty Programmes. IFRS 15 is effective for annual reporting periods
beginning on or after January 1, 2018, with early adoption permitted. The Group
is currently assessing the potential impact of IFRS 15 on its consolidated
financial statements.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><u><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Effective
for annual periods beginning on or after January 1, 2019</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:-17.85pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRS
16, Leases</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">IFRS 16
defines a lease as contract, or part of contract, that conveys the right to use
an asset (the underlying asset) for a period of time in exchange for
consideration. It also requires lessees to recognise assets and liabilities for
most leases, with certain exemptions. It replaces the existing guidance in IAS
17. IFRS 16 is effective for annual reporting periods beginning on or after
January 1, 2019, with early adoption permitted, provided the new revenue
standard, IFRS 15 Revenue from Contracts with Customers, has been applied, or
is applied at the same date as IFRS 16. The Group is currently assessing the
potential impact of IFRS 16 on its consolidated financial statements.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><u><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
effective date was postponed to a date yet to be determined</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.25in;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;text-decoration:none;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;text-indent:-17.85pt;"><font face=symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amendments
to IFRS 10 and IAS 28, Sale or Contribution of Assets between an Investor and
its Associate or Joint Venture</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-align:justify;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
amendments provide guidance for accounting treatment when a parent </font><font face=arial,sans-serif lang=IN style="font-size:10.0pt;">loses </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">control of a
subsidiary in a transaction with an associate or joint venture. The amendments
require full gain to be recognized when the assets transferred meet the
definition of a &#8220;business&#8221; under IFRS 3, Business Combinations. These
amendments are not expected to impact the Group&#8217;s consolidated financial
position or performance.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=IN style="font-size:10.0pt;">&nbsp;</font></p>



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<DESCRIPTION>PT TELKOM INDONESIA (PERSERO) TBK
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<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>x16040122311404.jpg
<DESCRIPTION>PT TELKOM INDONESIA (PERSERO) TBK
<TEXT>
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<DESCRIPTION>PT TELKOM INDONESIA (PERSERO) TBK
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
